Zacks Investment Research upgraded shares of Tetra Technologies, Inc. (NYSE:TTI) from a hold rating to a buy rating in a report published on Thursday. They currently have $4.00 price target on the oil and gas company’s stock.
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. “
Other equities research analysts have also issued reports about the company. Scotiabank set a $4.00 price target on Tetra Technologies and gave the company a buy rating in a research report on Tuesday, August 22nd. Loop Capital boosted their target price on Tetra Technologies from $5.00 to $6.00 and gave the stock a buy rating in a report on Friday, November 10th. Piper Jaffray Companies set a $4.00 target price on Tetra Technologies and gave the stock a buy rating in a report on Wednesday, October 11th. Morgan Stanley boosted their target price on Tetra Technologies from $3.00 to $4.00 and gave the stock an equal weight rating in a report on Wednesday. Finally, Royal Bank Of Canada reissued a hold rating and issued a $3.25 target price on shares of Tetra Technologies in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $4.73.
Tetra Technologies (NYSE:TTI) traded up $0.13 during midday trading on Thursday, hitting $3.71. The company had a trading volume of 1,915,554 shares, compared to its average volume of 1,291,812. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.38 and a current ratio of 2.24. Tetra Technologies has a one year low of $1.85 and a one year high of $5.98.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. Tetra Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The company had revenue of $216.36 million for the quarter, compared to analyst estimates of $218.65 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. research analysts predict that Tetra Technologies will post -0.16 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Algert Global LLC raised its stake in shares of Tetra Technologies by 45.4% in the third quarter. Algert Global LLC now owns 205,081 shares of the oil and gas company’s stock worth $587,000 after purchasing an additional 64,041 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Tetra Technologies by 5.1% in the third quarter. Neuberger Berman Group LLC now owns 3,123,688 shares of the oil and gas company’s stock worth $8,934,000 after purchasing an additional 150,586 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Tetra Technologies by 77.2% in the third quarter. California Public Employees Retirement System now owns 319,526 shares of the oil and gas company’s stock worth $914,000 after purchasing an additional 139,226 shares during the last quarter. Formula Growth Ltd. raised its stake in shares of Tetra Technologies by 24.6% in the third quarter. Formula Growth Ltd. now owns 4,687,461 shares of the oil and gas company’s stock worth $13,406,000 after purchasing an additional 925,655 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Tetra Technologies by 10.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,013,636 shares of the oil and gas company’s stock worth $2,899,000 after purchasing an additional 96,023 shares during the last quarter. Hedge funds and other institutional investors own 91.18% of the company’s stock.
Tetra Technologies Company Profile
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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