TTI Tetra Technologies, Inc.
TETRA Technologies, Inc. is a geographically diversified oil and gas services company. It engages in the completion of fluids and associated products and services. It operates through the following segments: Completion Fluids and Products; Compression; 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. The Compression division offers compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage. The Water and Flowback Services division provides onshore oil and gas operators with comprehensive water management services. The company was founded in 1981 and is headquartered in The Woodlands, TX.
Company profile
Ticker
TTI
Exchange
Website
CEO
Brady Murphy
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
742148293
TTI stock data
()
Calendar
3 Nov 20
22 Jan 21
31 Dec 21
News
Financial summary
| Quarter (USD) | Sep 20 | Jun 20 | Mar 20 | Sep 19 | |
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| Diluted EPS |
| Annual (USD) | Dec 19 | Dec 18 | Mar 18 | Dec 17 | |
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| Operating income | |||||
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| Diluted EPS |
Financial data from Tetra earnings reports.
| Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 75.22M | 75.22M | 75.22M | 75.22M | 75.22M | 75.22M |
| Cash burn (monthly) | (positive/no burn) | (positive/no burn) | 6.93M | 6.04M | (positive/no burn) | (positive/no burn) |
| Cash used (since last report) | n/a | n/a | 25.94M | 22.62M | n/a | n/a |
| Cash remaining | n/a | n/a | 49.28M | 52.6M | n/a | n/a |
| Runway (months of cash) | n/a | n/a | 7.1 | 8.7 | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 26 Sep 20 | O'Brien Richard D | Common Stock | Payment of exercise | Dispose F | No | 0.5006 | 2,757 | 1.38K | 152,421 |
| 26 Sep 20 | O'Brien Richard D | Common Stock | Option exercise | Aquire M | No | 0 | 11,319 | 0 | 155,178 |
| 26 Sep 20 | O'Brien Richard D | RSU Common Stock | Option exercise | Dispose M | No | 0 | 11,319 | 0 | 33,959 |
| 31 Aug 20 | Elijio V Serrano | Common Stock | Payment of exercise | Dispose F | No | 0.68 | 4,131 | 2.81K | 629,523 |
| 31 Aug 20 | Matthew Sanderson | Common Stock | Payment of exercise | Dispose F | No | 0.68 | 2,131 | 1.45K | 168,450 |
| 25 Aug 20 | Timothy C Moeller | Common Stock | Option exercise | Aquire M | No | 0 | 4,484 | 0 | 25,624 |
| 25 Aug 20 | Timothy C Moeller | RSU Common Stock | Option exercise | Dispose M | No | 0 | 4,484 | 0 | 13,453 |
| 25 Aug 20 | Elijio V Serrano | Common Stock | Payment of exercise | Dispose F | No | 0.6152 | 8,299 | 5.11K | 633,654 |
| 25 Aug 20 | Elijio V Serrano | Common Stock | Option exercise | Aquire M | No | 0 | 34,079 | 0 | 641,953 |
| 25 Aug 20 | Elijio V Serrano | RSU Common Stock | Option exercise | Dispose M | No | 0 | 34,079 | 0 | 102,239 |
Institutional ownership Q3 2020
44.3% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 76 |
| Opened positions | 14 |
| Closed positions | 21 |
| Increased positions | 15 |
| Reduced positions | 30 |
13F shares |
Current |
|---|---|
| Total value | 30.08M |
| Total shares | 55.77M |
| Total puts | 0 |
| Total calls | 16.8K |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| Roumell Asset Management | 11.48M | $5.86M |
| Fuller & Thaler Asset Management | 7.13M | $3.64M |
| Vanguard | 4.21M | $2.15M |
| Dimensional Fund Advisors | 3.13M | $1.6M |
| Prescott Group Capital Management, L.L.C. | 2.76M | $1.41M |
| Arrowstreet Capital, Limited Partnership | 2.53M | $1.29M |
| Marathon Capital Management | 2.07M | $1.06M |
| BLK Blackrock | 2.02M | $1.03M |
| Millennium Management | 2.01M | $1.03M |
| Bridgeway Capital Management | 1.76M | $900K |
Financial report summary
?Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
- We are a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, comprehensive water management, frac flowback, production well testing and offshore rig cooling services, and compression services and equipment. We operate through three reporting segments organized into three Divisions - Completion Fluids & Products, Water & Flowback Services, and Compression.
- Demand for the products and services of our Completion Fluids & Products Division has remained resilient despite the continued significant downward pressure on oil prices and ongoing uncertainty in many of the markets in which we operate. During the third quarter of 2020, lower domestic completion fluids product sales revenues as a result of hurricane activity in the Gulf of Mexico were offset by strong international sales mainly in the Middle East and Europe. However, continuing low prices for oil and gas and further price erosion could adversely affect the demand for our products and services in the future.
Content analysis
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| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
H.S. junior Avg
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New words:
assemble, awarded, awarding, comparison, East, Europe, hurricane, Middle, recover, released, stabilized, stabilizing
Removed:
engineering, execute, filtration, high, improved, improvement, intend, proactively, respond, utilization, vigorously
Financial reports
10-Q
2020 Q3
Quarterly report
3 Nov 20
10-Q
2020 Q1
Quarterly report
7 Aug 20
10-Q
2020 Q1
Quarterly report
7 May 20
10-K
2019 FY
Annual report
16 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
9 Aug 19
10-Q
2019 Q1
Quarterly report
10 May 19
10-K
2018 FY
Annual report
4 Mar 19
10-Q
2018 Q3
Quarterly report
8 Nov 18
10-Q
2018 Q2
Quarterly report
9 Aug 18
Current reports
8-K
Tetra Technologies, Inc. Announces Planned Retirement of Paul D. Coombs from Its Board of Directors
7 Jan 21
8-K
Tetra Technologies, Inc. Announces Third Quarter 2020 Results
3 Nov 20
8-K
Tetra Technologies, Inc. to Present at The H.C. Wainwright & Co
15 Sep 20
8-K
Other Events
3 Sep 20
8-K/A
Tetra Technologies, Inc. Announces Update
7 Aug 20
8-K
Tetra Technologies, Inc. Announces Second Quarter 2020 Results
4 Aug 20
8-K
Departure of Directors or Certain Officers
28 Jul 20
8-K
Changes in Registrant's Certifying Accountant
18 Jun 20
8-K
Regulation FD Disclosure
12 Jun 20
8-K
Regulation FD Disclosure
2 Jun 20
Registration and prospectus
424B2
Prospectus for primary offering
1 May 19
S-3
Shelf registration
12 Apr 19
S-8
Registration of securities for employees
4 May 18
S-8
Registration of securities for employees
4 May 18
S-8
Registration of securities for employees
12 Feb 18
S-8
Registration of securities for employees
22 Dec 16
424B5
Prospectus supplement for primary offering
12 Dec 16
424B3
Prospectus supplement
9 Dec 16
FWP
Free writing prospectus
8 Dec 16
FWP
Free writing prospectus
8 Dec 16
Proxies
DEFA14A
Additional proxy soliciting materials
23 Mar 20
DEF 14A
Definitive proxy
23 Mar 20
DEFA14A
Additional proxy soliciting materials
21 Mar 19
DEF 14A
Definitive proxy
21 Mar 19
DEFA14A
Additional proxy soliciting materials
27 Apr 18
DEF 14A
Definitive proxy
22 Mar 18
DEFA14A
Additional proxy soliciting materials
22 Mar 18
DEF 14A
Definitive proxy
23 Mar 17
DEFA14A
Additional proxy soliciting materials
23 Mar 17
PRE 14A
Preliminary proxy
6 Mar 17
Other
SD
Conflict minerals disclosure
19 May 20
SD
Conflict minerals disclosure
23 May 19
EFFECT
Notice of effectiveness
2 May 19
CORRESP
Correspondence with SEC
29 Apr 19
UPLOAD
Letter from SEC
18 Apr 19
SD
Conflict minerals disclosure
29 May 18
SD
Conflict minerals disclosure
31 May 17
SD
Conflict minerals disclosure
31 May 16
EFFECT
Notice of effectiveness
13 Apr 16
CORRESP
Correspondence with SEC
12 Apr 16
Ownership
4
TETRA / Richard D O'Brien ownership change
28 Sep 20
SC 13G/A
TETRA / HIRSCHMAN ORIN ownership change
17 Sep 20
4/A
TETRA / MATTHEW SANDERSON ownership change
3 Sep 20
4
TETRA / MATTHEW SANDERSON ownership change
1 Sep 20
4
TETRA / ELIJIO V SERRANO ownership change
1 Sep 20
4
TETRA / MATTHEW SANDERSON ownership change
26 Aug 20
4
TETRA / Timothy C Moeller ownership change
26 Aug 20
4
TETRA / ELIJIO V SERRANO ownership change
26 Aug 20
4
TETRA / Jacek M Mucha ownership change
26 Aug 20
4
TETRA / Brady M Murphy ownership change
26 Aug 20
Patents
GRANT
Utility
Stabilization and reduction of TCT of brines containing monovalent iodides
1 Dec 20
A composition for use in a wellbore activity, the composition comprising a stabilized monovalent iodide brine, the stabilized monovalent iodide brine comprises a monovalent salt system, the monovalent salt system comprises a monovalent iodide; a primary iodide stabilizer, the primary iodide stabilizer operable to remove free iodine, prevent the formation of free iodine, and suppress TCT; and an aqueous fluid, where the stabilized monovalent iodide brine has a density greater than 10 lb/gal, where the stabilized monovalent iodide brine has a TCT of less than or equal to 70 deg F.
GRANT
Utility
Multi chamber mixing manifold
20 Oct 20
One or more embodiments relate to systems and methods for mixing of two or more fluids using a multi-chamber manifold.
GRANT
Utility
Method of delivering frac fluid and additives
20 Oct 20
A method for the controlled delivery of a fracturing fluid to a well bore comprises formulating an aqueous base fluid such that it meets or exhibits desired physical and chemical characteristics for an optimal fracturing fluid.
APP
Utility
Rapid Deployment Frac Water Transfer System
15 Oct 20
A method of and apparatus for the rapid deployment of a fracturing water transferring system, along with the rapid picking up and storage of such system after use.
APP
Utility
High Density, Low TCT Monovalent Brines and Uses Thereof
13 Aug 20
A method of using a suppression factor fluid during a well activity is provided.