Tetra Technologies’ (TTI) Hold Rating Reaffirmed at Royal Bank Of Canada
Tetra Technologies, Inc. (NYSE:TTI)‘s stock had its “hold” rating reissued by analysts at Royal Bank Of Canada in a report issued on Thursday. They presently have a $3.25 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 4.17% from the stock’s previous close.
Several other analysts also recently weighed in on TTI. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Credit Suisse Group raised shares of Tetra Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $5.00 to $5.50 in a research report on Tuesday, April 11th. Simmons upped their price objective on shares of Tetra Technologies from $4.80 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, April 11th. Morgan Stanley dropped their price objective on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Finally, Johnson Rice raised shares of Tetra Technologies from an “accumulate” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, April 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Tetra Technologies has a consensus rating of “Buy” and a consensus target price of $5.90.
Shares of Tetra Technologies (NYSE TTI) traded up 1.63% during midday trading on Thursday, reaching $3.12. 1,202,234 shares of the company traded hands. Tetra Technologies has a 1-year low of $2.49 and a 1-year high of $6.77. The company’s market capitalization is $361.77 million. The company has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.81.
Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $168 million for the quarter, compared to the consensus estimate of $168.64 million. Tetra Technologies had a negative net margin of 10.90% and a negative return on equity of 11.46%. Tetra Technologies’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, analysts expect that Tetra Technologies will post ($0.17) earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the company. Empyrean Capital Partners LP purchased a new stake in shares of Tetra Technologies during the fourth quarter worth about $3,359,000. Norges Bank purchased a new stake in shares of Tetra Technologies during the fourth quarter worth about $15,354,000. Bank of Montreal Can increased 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 during the period. FMR LLC increased its stake in shares of Tetra Technologies by 111.3% in the fourth quarter. FMR LLC now owns 5,793,798 shares of the oil and gas company’s stock worth $29,085,000 after buying an additional 3,051,513 shares during the period. Finally, Wells Fargo & Company MN increased its stake 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 period. 93.61% of the stock is currently 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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