Tetra Technologies, Inc. (TTI) Upgraded at Zacks Investment Research
Tetra Technologies, Inc. (NYSE:TTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
A number of other brokerages also recently weighed in on TTI. Royal Bank Of Canada set a $5.00 price objective on Tetra Technologies and gave the company a “hold” rating in a research note on Friday, June 16th. Morgan Stanley cut their price objective on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. ValuEngine downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Scotiabank set a $4.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Tetra Technologies presently has an average rating of “Buy” and an average target price of $5.33.
Tetra Technologies (NYSE TTI) traded down 1.40% on Thursday, hitting $2.12. 233,384 shares of the stock were exchanged. The company’s 50-day moving average is $2.32 and its 200-day moving average is $3.19. The company’s market cap is $245.70 million. Tetra Technologies has a 52 week low of $1.85 and a 52 week high of $6.45.
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 for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.03. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The company had revenue of $208.37 million during the quarter, compared to the consensus estimate of $204.19 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. On average, analysts predict that Tetra Technologies will post ($0.18) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Tetra Technologies by 26.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,544 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 20,584 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Tetra Technologies by 326.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 36,687 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tetra Technologies by 25.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 460,589 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 94,476 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tetra Technologies by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after purchasing an additional 774,482 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Tetra Technologies during the 2nd quarter worth approximately $666,000. 91.02% of the stock is currently owned by hedge funds and other institutional investors.
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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