Principal Financial Group Inc. Boosts Stock Holdings in Tetra Technologies, Inc. $TTI

Principal Financial Group Inc. boosted its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 66.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,022 shares of the oil and gas company’s stock after buying an additional 93,865 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Tetra Technologies worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTI. Aster Capital Management DIFC Ltd bought a new stake in Tetra Technologies during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC bought a new position in Tetra Technologies in the 4th quarter worth about $39,000. Osaic Holdings Inc. raised its holdings in shares of Tetra Technologies by 647.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 11,000 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at about $45,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Tetra Technologies by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 10,204 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on TTI shares. Northland Securities upped their price objective on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Tetra Technologies Stock Up 4.1%

TTI opened at $7.61 on Friday. The business’s fifty day simple moving average is $9.69 and its 200 day simple moving average is $9.78. Tetra Technologies, Inc. has a 52 week low of $3.82 and a 52 week high of $12.54. 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 stock has a market cap of $1.01 billion, a PE ratio of 152.17 and a beta of 1.19.

Tetra Technologies (NYSE:TTI) last issued its quarterly 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. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. As a group, research analysts expect that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the company’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 value of $536,000.00. Following the completion of the sale, the chief executive officer owned 2,965,457 shares of the company’s stock, valued at $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.27% of the company’s stock.

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.