Arizona State Retirement System Invests $113,000 in TETRA Technologies, Inc. (NYSE:TTI)

Arizona State Retirement System purchased a new stake in TETRA Technologies, Inc. (NYSE:TTI – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 32,571 shares of the oil and gas company’s stock, valued at approximately $113,000.

A number of other institutional investors have also added to or reduced their stakes in TTI. Millennium Management LLC lifted its holdings in shares of TETRA Technologies by 283.2% during the 2nd quarter. Millennium Management LLC now owns 3,114,792 shares of the oil and gas company’s stock valued at $12,646,000 after buying an additional 2,302,051 shares during the period. Neuberger Berman Group LLC lifted its position in shares of TETRA Technologies by 94.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,868,877 shares of the oil and gas company’s stock worth $13,889,000 after purchasing an additional 1,883,751 shares during the period. Stanley Laman Group Ltd. acquired a new stake in shares of TETRA Technologies in the 4th quarter worth $2,383,000. Goldman Sachs Group Inc. lifted its position in TETRA Technologies by 331.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 751,766 shares of the oil and gas company’s stock worth $3,090,000 after acquiring an additional 577,401 shares during the period. Finally, Roumell Asset Management LLC raised its stake in shares of TETRA Technologies by 130.2% during the 3rd quarter. Roumell Asset Management LLC now owns 988,420 shares of the oil and gas company’s stock valued at $3,548,000 after buying an additional 559,122 shares during the last quarter. Institutional investors own 59.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of TETRA Technologies in a report on Thursday, May 18th. They issued a “hold” rating for the company. EF Hutton Acquisition Co. I reduced their price objective on TETRA Technologies from $8.50 to $8.00 and set a “buy” rating for the company in a report on Thursday, March 16th.

TETRA Technologies Stock Down 3.8 %

Shares of TETRA Technologies stock opened at $2.77 on Friday. The stock has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $3.37. TETRA Technologies, Inc. has a 52-week low of $2.43 and a 52-week high of $5.82. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.12 and a quick ratio of 1.37. The firm has a market cap of $358.44 million, a price-to-earnings ratio of 55.41 and a beta of 2.54.

TETRA Technologies (NYSE:TTI – Get Rating) last announced its earnings results on Monday, February 27th. The oil and gas company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. TETRA Technologies had a return on equity of 14.74% and a net margin of 1.08%. The company had revenue of $147.45 million for the quarter, compared to analysts’ expectations of $135.40 million. On average, equities research analysts expect that TETRA Technologies, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In other TETRA Technologies news, CEO Brady M. Murphy purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was bought at an average cost of $3.41 per share, for a total transaction of $102,300.00. Following the completion of the transaction, the chief executive officer now owns 1,722,450 shares in the company, valued at $5,873,554.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brady M. Murphy acquired 30,000 shares of TETRA Technologies stock in a transaction dated Wednesday, March 8th. The shares were bought at an average cost of $3.41 per share, with a total value of $102,300.00. Following the purchase, the chief executive officer now owns 1,722,450 shares in the company, valued at approximately $5,873,554.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas R. Bates, Jr. bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was purchased at an average price of $3.42 per share, for a total transaction of $51,300.00. Following the completion of the acquisition, the director now owns 454,260 shares in the company, valued at $1,553,569.20. The disclosure for this purchase can be found here. Insiders acquired a total of 59,750 shares of company stock valued at $204,040 over the last three months. Insiders own 4.75% of the company’s stock.

TETRA Technologies Company Profile

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TETRA Technologies, Inc is a geographically diversified oil and gas services company, which engages in the completion of fluids and associated products and services. It operates through the following segments: Completion Fluids and Products, and Water and Flowback Services. The Completion Fluids and Products division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry.