Tetra Technologies, Inc. (NYSE:TTI) – Capital One Financial Corporation dropped their FY2017 earnings per share (EPS) estimates for Tetra Technologies in a research report issued to clients and investors on Monday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will post earnings per share of ($0.17) for the year, down from their previous estimate of ($0.16). Capital One Financial Corporation also issued estimates for Tetra Technologies’ Q4 2017 earnings at ($0.03) EPS and FY2018 earnings at ($0.09) EPS.
Several other research analysts have also issued reports on TTI. Zacks Investment Research upgraded shares of Tetra Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Royal Bank Of Canada set a $3.00 price target on shares of Tetra Technologies and gave the stock a “hold” rating in a research note on Saturday, October 7th. Piper Jaffray Companies set a $4.00 price target on shares of Tetra Technologies and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank set a $4.00 price target on shares of Tetra Technologies and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Finally, BidaskClub lowered shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $5.17.
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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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The business had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share.
Several institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. increased its stake in Tetra Technologies by 1.6% during the 1st quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock valued at $789,000 after purchasing an additional 3,080 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Tetra Technologies during the 2nd quarter valued at about $356,000. Viking Fund Management LLC increased its stake in Tetra Technologies by 13.2% during the 2nd quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock valued at $1,674,000 after purchasing an additional 70,000 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Tetra Technologies by 3.9% during the 1st quarter. Neuberger Berman Group LLC now owns 3,109,849 shares of the oil and gas company’s stock valued at $12,657,000 after purchasing an additional 116,893 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Tetra Technologies by 12.1% during the 1st quarter. Ameriprise Financial Inc. now owns 2,968,831 shares of the oil and gas company’s stock valued at $12,083,000 after purchasing an additional 320,943 shares in the last quarter. Institutional investors own 91.01% of the company’s stock.
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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