Tetra Technologies (NYSE:TTI) CEO Sells 50,000 Shares

Tetra Technologies, Inc. (NYSE:TTI) CEO Brady Murphy sold 50,000 shares of the 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 transaction, the chief executive officer directly owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tetra Technologies Trading Down 9.0%

Shares of TTI traded down $0.93 during mid-day trading on Thursday, reaching $9.32. The company had a trading volume of 1,837,881 shares, compared to its average volume of 1,823,850. Tetra Technologies, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $12.54. The firm has a fifty day simple moving average of $10.18 and a 200-day simple moving average of $9.86. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 186.54 and a beta of 1.18. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. On average, sell-side analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Tetra Technologies

A number of hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new position in shares of Tetra Technologies during the 1st quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Tetra Technologies in the 4th quarter valued at $33,000. Stone House Investment Management LLC purchased a new position in Tetra Technologies in the fourth quarter valued at about $39,000. Rockefeller Capital Management L.P. acquired a new position in shares of Tetra Technologies during the fourth quarter worth about $45,000. Finally, Generali Investments Management Co LLC acquired a new position in shares of Tetra Technologies during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TTI. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Northland Securities lifted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.88.

Tetra Technologies Company 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.