TETRA Technologies (TTI) PT Set at $5.00 by Royal Bank of Canada

TETRA Technologies (NYSE:TTI) has been assigned a $5.00 target price by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 16.82% from the company’s previous close.

TTI has been the subject of several other reports. Zacks Investment Research raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Loop Capital boosted their price objective on shares of TETRA Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Morgan Stanley lifted their target price on shares of TETRA Technologies from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Wednesday, November 15th. Wells Fargo & Company lifted their target price on shares of TETRA Technologies from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Credit Suisse Group lifted their target price on shares of TETRA Technologies from $3.50 to $4.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $4.91.

Shares of TETRA Technologies (TTI) traded up $0.09 during midday trading on Thursday, hitting $4.28. 971,200 shares of the stock traded hands, compared to its average volume of 1,301,877. TETRA Technologies has a one year low of $1.85 and a one year high of $5.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.24 and a quick ratio of 1.38.

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

A number of hedge funds have recently modified their holdings of TTI. Engineers Gate Manager LP bought a new stake in shares of TETRA Technologies in the 2nd quarter worth about $356,000. FMR LLC increased its position in shares of TETRA Technologies by 2.1% in the 2nd 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 last quarter. Vanguard Group Inc. increased its position in shares of TETRA Technologies by 6.3% in the 2nd 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 last quarter. California Public Employees Retirement System increased its position in shares of TETRA Technologies by 33.5% in the 2nd quarter. California Public Employees Retirement System now owns 180,300 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 45,200 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of TETRA Technologies by 8.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 794,841 shares of the oil and gas company’s stock worth $2,218,000 after purchasing an additional 64,451 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.

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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.

Analyst Recommendations for TETRA Technologies (NYSE:TTI)

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