Zacks Investment Research upgraded shares of Tetra Technologies, Inc. (NYSE:TTI) from a sell rating to a hold rating in a research report released on Saturday morning.
According to Zacks, “TETRA Technologies, Inc. is an energy services company with an integrated chemicals operation that supplies chemical products to energy markets, as well as other markets. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “
Several other research firms also recently commented on TTI. Royal Bank Of Canada reaffirmed a hold rating and issued a $3.25 price objective on shares of Tetra Technologies in a report on Thursday, July 20th. BidaskClub cut shares of Tetra Technologies from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Finally, Morgan Stanley decreased their target price on shares of Tetra Technologies from $5.50 to $4.00 and set an equal weight rating for the company in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $5.67.
Shares of Tetra Technologies (TTI) traded down 2.93% during midday trading on Friday, reaching $1.99. 1,570,740 shares of the company’s stock were exchanged. Tetra Technologies has a 12-month low of $1.99 and a 12-month high of $6.77. The stock’s 50 day moving average price is $2.69 and its 200 day moving average price is $3.56. The company’s market cap is $230.64 million.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.03. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The firm had revenue of $208.37 million during the quarter, compared to analysts’ expectations of $204.19 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts anticipate that Tetra Technologies will post ($0.17) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in TTI. Norges Bank purchased a new stake in shares of Tetra Technologies during the fourth quarter worth about $15,354,000. Teachers Advisors LLC raised its stake in shares of Tetra Technologies by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 177,404 shares of the oil and gas company’s stock worth $891,000 after buying an additional 26,448 shares in the last quarter. Creative Planning raised its stake in shares of Tetra Technologies by 54.5% in the first quarter. Creative Planning now owns 68,000 shares of the oil and gas company’s stock worth $277,000 after buying an additional 24,000 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Tetra Technologies by 148.8% in the first quarter. Bank of Montreal Can now owns 163,984 shares of the oil and gas company’s stock worth $667,000 after buying an additional 98,067 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of Tetra Technologies by 39.5% in the first quarter. Viking Fund Management LLC now owns 530,000 shares of the oil and gas company’s stock worth $2,157,000 after buying an additional 150,000 shares in the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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