Tetra Technologies, Inc. (TTI) PT Set at $5.00 by Royal Bank Of Canada
Tetra Technologies, Inc. (NYSE:TTI) received a $5.00 price target from stock analysts at Royal Bank Of Canada in a report issued on Friday. The firm currently has a “hold” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 62.07% from the stock’s previous close.
Several other analysts have also recently weighed in on TTI. Zacks Investment Research cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. Scotiabank set a $7.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research report on Thursday, March 2nd. Morgan Stanley cut shares of Tetra Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Monday, March 6th. They noted that the move was a valuation call. Simmons lowered their price objective on shares of Tetra Technologies from $5.65 to $4.80 and set an “overweight” rating on the stock in a research report on Tuesday, March 14th. Finally, Credit Suisse Group upgraded shares of Tetra Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $5.00 to $5.50 in a research report on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Tetra Technologies presently has a consensus rating of “Buy” and an average price target of $6.28.
Shares of Tetra Technologies (NYSE TTI) traded down 1.27% on Friday, reaching $3.10. 316,266 shares of the company’s stock traded hands. Tetra Technologies has a one year low of $2.88 and a one year high of $6.77. The firm’s market cap is $359.45 million. The company’s 50-day moving average price is $3.22 and its 200 day moving average price is $4.18.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, May 10th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $168 million for the quarter, compared to analysts’ expectations of $168.64 million. Tetra Technologies had a negative net margin of 10.90% and a negative return on equity of 11.46%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted ($0.16) EPS. On average, equities analysts forecast that Tetra Technologies will post ($0.17) EPS for the current fiscal year.
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In other Tetra Technologies news, Director Thomas R. Bates, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The shares were bought at an average price of $3.94 per share, for a total transaction of $47,280.00. Following the transaction, the director now directly owns 76,467 shares in the company, valued at $301,279.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Tetra Technologies by 107.2% in the first quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock worth $48,870,000 after buying an additional 6,213,696 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tetra Technologies by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after buying an additional 1,068,050 shares during the last quarter. Boston Partners boosted its position in shares of Tetra Technologies by 20.6% in the first quarter. Boston Partners now owns 4,787,164 shares of the oil and gas company’s stock worth $19,483,000 after buying an additional 818,520 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock worth $16,230,000 after buying an additional 753,964 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Tetra Technologies by 20.1% in the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after buying an additional 613,376 shares during the last quarter. Institutional investors own 93.69% of the company’s stock.
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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