Tetra Technologies, Inc. (TTI) Raised to Hold 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 report issued on Wednesday.
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 equities research analysts also recently issued reports on TTI. Royal Bank Of Canada reaffirmed a “hold” rating and set a $3.25 price target on shares of Tetra Technologies in a research note on Thursday, July 20th. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Scotiabank set a $4.00 price target on shares of Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. ValuEngine downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co downgraded shares of Tetra Technologies from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tetra Technologies currently has a consensus rating of “Buy” and a consensus price target of $5.17.
Tetra Technologies (TTI) traded up 0.528% during trading on Wednesday, hitting $2.855. 306,616 shares of the company traded hands. Tetra Technologies has a 52 week low of $1.85 and a 52 week high of $5.98. The company’s 50 day moving average is $2.67 and its 200-day moving average is $2.79. The stock’s market capitalization is $330.89 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. Tetra Technologies’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS. Analysts predict that Tetra Technologies will post ($0.18) earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in TTI. FMR LLC raised its stake 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 valued at $48,870,000 after acquiring an additional 6,213,696 shares during the period. Formula Growth Ltd. raised its stake in shares of Tetra Technologies by 51.9% in the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after acquiring an additional 1,284,629 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $40,573,000 after acquiring an additional 1,068,050 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Tetra Technologies by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock valued at $13,709,000 after acquiring an additional 774,482 shares during the period. Finally, State Street Corp raised its stake 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 valued at $14,889,000 after acquiring an additional 613,376 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.
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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