Tetra Technologies Reports Three Insider Buys
Tetra Technologies (
) has seen three insider buys within the last week. So far 77,075
shares have been bought for a total of $699,354.
On March 7 Senior Vice President Philip Longorio bought 56,100
shares at $8.92 per share for a total transaction amount of
$500,412. Longorio now owns 123,354 shares of TTI. On March 8 CFO
and Senior Vice President Elijio Serrano bought 11,000 shares at
$9.09 each for a total purchase amounting to $99,990. Serrano now
holds on to 112,198 shares of Tetra Technologies. This afternoon
Senior Vice President Edwin Goldman added 9,975 shares to his
stake. Each share traded for $9.92 for a total cost of $98,952.
Goldman now owns 62,516 shares of TTI.
According to the chart displayed above, there is a trend of Tetra
Technologies insiders buying more when the cost per share drops.
Tetra Technologies is an oil and gas services company based out
of The Woodlands, Texas. The company focuses on completion fluids
and associated products and services, production well testing,
rig cooling and selected offshore services such as well plugging
Tetra Technologies reported a consolidated revenue for the
quarter ended Dec. 31, 2012, of $231.1 million in comparison to
$186.2 million that was reported in the fourth quarter of 2011.
Tetra suffered a one-time loss of $44.7 million due to Maritech
Engineering abandonment and decommissioning liabilities.
"During the fourth quarter, we continued to aggressively work to
reduce the Maritech segment's abandonment and decommissioning
liabilities, spending $28.3 million on such activities," stated
President and CEO Stuart Brightman. "As previously discussed, we
have attempted to accelerate these activities, with the objective
of completing the remaining work by the end of the third
Tetra Technologies is currently owned by four gurus followed by
holds 78,200 shares,
owns 566,900 shares,
Paul Tudor Jones
has 38,800 shares and Chuck Royce maintains 68,000 shares.
With shares down 0.72% today, Tetra Technologies trades at $9.64.
For more information on Tetra Technologies' insider trading look
at the TTI Insider Trade History.About GuruFocus: GuruFocus.com
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