Tetra Technologies (NYSE:TTI) Stock Price Down 9% – Here’s Why

Tetra Technologies, Inc. (NYSE:TTI) fell 9% during trading on Wednesday . The stock traded as low as $10.38 and last traded at $10.3150. Approximately 1,044,978 shares were traded during mid-day trading, a decline of 42% from the average session volume of 1,815,021 shares. The stock had previously closed at $11.33.

Analyst Ratings Changes

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

Tetra Technologies Stock Up 0.3%

The business has a fifty day moving average of $10.18 and a 200 day moving average of $9.86. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.24 billion, a P/E ratio of 186.54 and a beta of 1.19.

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

Insider Buying and Selling

In other news, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies stock in a transaction on Wednesday, July 1st. The shares were 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 of the company’s stock, valued at $31,789,699.04. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kurt Hallead purchased 22,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, with a total value of $216,920.00. Following the acquisition, the vice president directly owned 170,764 shares in the company, valued at $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 insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. F m Investments LLC bought a new position in shares of Tetra Technologies during the 4th quarter valued at about $958,000. American Century Companies Inc. increased its holdings in Tetra Technologies by 13.8% during the 3rd quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after purchasing an additional 414,076 shares in the last quarter. Acuitas Investments LLC acquired a new stake in shares of Tetra Technologies in the 3rd quarter valued at about $4,233,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Tetra Technologies in the fourth quarter valued at about $7,386,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Tetra Technologies during the fourth quarter worth about $25,359,000. 70.19% of the stock is currently owned by institutional investors.

About Tetra Technologies

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.