TETRA Technologies (TTI) Downgraded by Zacks Investment Research to “Hold”

TETRA Technologies (NYSE:TTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services including well plugging and abandonment, decommissioning, and diving. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “

Several other equities analysts also recently issued reports on TTI. Piper Jaffray Companies set a $5.00 price objective on TETRA Technologies and gave the stock a “buy” rating in a research report on Friday, December 29th. ValuEngine upgraded TETRA Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 14th. Royal Bank of Canada set a $5.00 price objective on TETRA Technologies and gave the stock a “hold” rating in a research report on Thursday, December 21st. Morgan Stanley boosted their price objective on TETRA Technologies from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Finally, Loop Capital boosted their price objective on TETRA Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $5.00.

TETRA Technologies (NYSE:TTI) opened at $4.34 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $502.95, a P/E ratio of -10.09 and a beta of 0.99. TETRA Technologies has a 52-week low of $1.85 and a 52-week high of $5.10.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $216.36 million during the quarter, compared to the consensus estimate of $218.65 million. TETRA Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The business’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. research analysts anticipate that TETRA Technologies will post -0.14 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in TETRA Technologies by 2.1% in the second quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock worth $34,199,000 after purchasing an additional 250,100 shares during the period. Vanguard Group Inc. lifted its position in TETRA Technologies by 6.3% in the second quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock worth $29,559,000 after purchasing an additional 625,816 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in TETRA Technologies by 0.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,059,378 shares of the oil and gas company’s stock worth $23,050,000 after purchasing an additional 53,966 shares during the period. Boston Partners lifted its position in TETRA Technologies by 8.7% in the third quarter. Boston Partners now owns 5,178,124 shares of the oil and gas company’s stock worth $14,809,000 after purchasing an additional 415,120 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in 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 worth $13,709,000 after purchasing an additional 774,482 shares during the period. Hedge funds and other institutional investors own 90.55% of the company’s stock.

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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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