Tetra Technologies, Inc. (NYSE:TTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
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 research analysts also recently weighed in on TTI. Royal Bank Of Canada set a $5.00 target price on Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Morgan Stanley lowered their target price 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. Finally, BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Tetra Technologies currently has an average rating of “Buy” and an average price target of $5.67.
Shares of Tetra Technologies (NYSE TTI) opened at 1.99 on Friday. Tetra Technologies has a 12 month low of $1.99 and a 12 month high of $6.77. The stock has a 50 day moving average of $2.69 and a 200-day moving average of $3.56. The company’s market cap is $227.92 million.
Tetra Technologies (NYSE:TTI) last posted its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $208.37 million during the quarter, compared to the consensus estimate of $204.19 million. During the same period in the prior year, the company posted ($0.15) EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. On average, analysts forecast that Tetra Technologies will post ($0.17) EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of TTI. FMR LLC increased its position in 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 buying an additional 6,213,696 shares during the period. Norges Bank bought a new position in Tetra Technologies during the fourth quarter valued at approximately $15,354,000. Formula Growth Ltd. increased its position in 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 buying an additional 1,284,629 shares during the period. Vanguard Group Inc. increased its position in 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 buying an additional 1,068,050 shares during the period. Finally, Boston Partners increased its position in Tetra Technologies by 20.6% in the first quarter. Boston Partners now owns 4,787,164 shares of the oil and gas company’s stock valued at $19,483,000 after buying an additional 818,520 shares during the period. 93.54% 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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