Zacks Investment Research upgraded shares of Tetra Technologies, Inc. (NYSE:TTI) from a sell rating to a hold rating in a report released on Wednesday morning.
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 issued reports about the company. J P Morgan Chase & Co lowered Tetra Technologies from an overweight rating to a neutral rating in a research 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 research report on Thursday, July 20th. Piper Jaffray Companies set a $4.00 target price on Tetra Technologies and gave the company a buy rating in a research note on Wednesday, October 11th. BidaskClub cut Tetra Technologies from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Finally, ValuEngine cut Tetra Technologies from a sell rating to a strong sell rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $5.17.
Shares of Tetra Technologies (NYSE:TTI) traded up $0.04 during mid-day trading on Wednesday, hitting $2.97. The stock had a trading volume of 689,811 shares, compared to its average volume of 647,462. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $5.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.48 and a current ratio of 2.36.
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 for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $208.37 million during the quarter, compared to the consensus estimate of $204.19 million. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. Tetra Technologies’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) earnings per share. research analysts forecast that Tetra Technologies will post -0.22 earnings per share for the current year.
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Large investors have recently made changes to their positions in the business. Prudential Financial Inc. raised its stake in Tetra Technologies by 1.6% during the first quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock valued at $789,000 after buying an additional 3,080 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Tetra Technologies during the second quarter valued at $356,000. Viking Fund Management LLC raised its stake in Tetra Technologies by 13.2% during the second quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock valued at $1,674,000 after buying an additional 70,000 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Tetra Technologies by 0.7% during the second quarter. Russell Investments Group Ltd. now owns 1,928,054 shares of the oil and gas company’s stock valued at $5,379,000 after buying an additional 12,504 shares during the last quarter. Finally, FMR LLC raised its stake in Tetra Technologies by 2.1% during the second quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock valued at $34,199,000 after buying an additional 250,100 shares during the last quarter. Institutional investors and hedge funds own 90.60% 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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