TETRA Technologies (TTI) Sees Strong Trading Volume After Insider Buying Activity

Shares of TETRA Technologies, Inc. (NYSE:TTI) saw an uptick in trading volume on Friday following insider buying activity. 1,184,533 shares were traded during trading, an increase of 55% from the previous session’s volume of 765,440 shares.The stock last traded at $4.39 and had previously closed at $4.30.

Specifically, Director Thomas R. Bates, Jr. purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average price of $4.38 per share, for a total transaction of $43,800.00. Following the transaction, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP James H. Funke sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total transaction of $175,350.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on TTI. Stifel Nicolaus began coverage on shares of TETRA Technologies in a research report on Monday, September 10th. They issued a “buy” rating and a $6.50 price target on the stock. Credit Suisse Group boosted their price target on shares of TETRA Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Monday, August 13th. B. Riley set a $8.00 price target on shares of TETRA Technologies and gave the stock a “buy” rating in a research report on Friday, August 10th. Wells Fargo & Co boosted their price target on shares of TETRA Technologies from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research downgraded shares of TETRA Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.61.

The company has a market cap of $545.45 million, a price-to-earnings ratio of -20.81, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. The company has a current ratio of 2.45, a quick ratio of 1.66 and a debt-to-equity ratio of 2.61.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $260.10 million during the quarter, compared to analyst estimates of $237.95 million. TETRA Technologies had a negative net margin of 9.43% and a negative return on equity of 0.90%. TETRA Technologies’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. equities analysts expect that TETRA Technologies, Inc. will post 0.07 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of TETRA Technologies by 47.3% in the 1st quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 11,664 shares in the last quarter. Comerica Bank increased its stake in shares of TETRA Technologies by 7.9% in the 1st quarter. Comerica Bank now owns 171,309 shares of the oil and gas company’s stock valued at $629,000 after acquiring an additional 12,586 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of TETRA Technologies by 9.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 161,573 shares of the oil and gas company’s stock valued at $601,000 after acquiring an additional 14,004 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of TETRA Technologies by 87.4% in the 2nd quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 16,372 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of TETRA Technologies by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 248,673 shares of the oil and gas company’s stock valued at $1,117,000 after acquiring an additional 17,719 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

About TETRA Technologies (NYSE:TTI)

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.

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