Tetra Technologies, Inc. (NYSE:TTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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 recently issued reports about the company. J P Morgan Chase & Co cut Tetra Technologies from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “hold” rating and issued a $3.25 price objective on shares of Tetra Technologies in a report on Thursday, July 20th. Morgan Stanley lowered their price objective on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Piper Jaffray Companies set a $4.00 price objective on Tetra Technologies and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, BidaskClub cut Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Tetra Technologies currently has a consensus rating of “Hold” and an average target price of $5.17.

Tetra Technologies (NYSE TTI) traded down 0.75% during midday trading on Tuesday, hitting $2.64. The company had a trading volume of 67,584 shares. The firm’s market capitalization is $305.97 million. The company has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.89. Tetra Technologies has a 1-year low of $1.85 and a 1-year high of $6.34.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $204.19 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts forecast that Tetra Technologies will post ($0.18) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of TTI. FMR LLC boosted its holdings in shares of Tetra Technologies by 107.2% during the 1st quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock worth $48,870,000 after purchasing an additional 6,213,696 shares during the last quarter. Formula Growth Ltd. boosted its holdings in shares of Tetra Technologies by 51.9% during the 2nd quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock worth $10,495,000 after purchasing an additional 1,284,629 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tetra Technologies by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after purchasing an additional 1,068,050 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 during the last quarter. Finally, State Street Corp boosted its holdings in shares of Tetra Technologies by 20.1% during the 1st quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after purchasing an additional 613,376 shares during the last quarter. Institutional investors and hedge funds own 91.01% 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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