Counterpoint Mutual Funds LLC Acquires Shares of 104,965 Tetra Technologies, Inc. $TTI

Counterpoint Mutual Funds LLC acquired a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, HoldingsChannel reports. The firm acquired 104,965 shares of the oil and gas company’s stock, valued at approximately $894,000.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Tetra Technologies by 87.3% in the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock valued at $405,000 after purchasing an additional 56,203 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tetra Technologies by 125.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock worth $544,000 after purchasing an additional 90,001 shares during the period. Jane Street Group LLC lifted its holdings in shares of Tetra Technologies by 389.7% during the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after purchasing an additional 302,793 shares during the period. JPMorgan Chase & Co. grew its position in Tetra Technologies by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock valued at $1,309,000 after buying an additional 3,547 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Tetra Technologies by 74.4% in the 2nd quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 7,590 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

Tetra Technologies Stock Up 0.3%

Shares of NYSE TTI opened at $9.32 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. Tetra Technologies, Inc. has a 52 week low of $3.17 and a 52 week high of $12.54. The firm has a 50-day moving average price of $10.18 and a 200 day moving average price of $9.86. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 186.54 and a beta of 1.19.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $151.20 million. Equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Northland Securities boosted their price objective on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.88.

Insider Buying and Selling

In other news, CEO Brady M. Murphy sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the sale, the chief executive officer owned 2,965,457 shares of the company’s stock, valued at $31,789,699.04. The trade was a 1.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.27% of the stock is currently owned by company insiders.

Tetra Technologies Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.