Tetra Technologies, Inc. (NYSE:TTI – Get Free Report) shares gapped up before the market opened on Tuesday after Clear Str upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $6.03, but opened at $6.31. Tetra Technologies shares last traded at $6.1850, with a volume of 165,330 shares trading hands.
Several other brokerages also recently commented on TTI. Northland Securities set a $10.00 price objective on Tetra Technologies in a research report on Tuesday, September 1st. Stifel Nicolaus lowered their price target on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Finally, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.17.
Insider Buying and Selling at Tetra Technologies
Institutional Trading of Tetra Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Tetra Technologies during the second quarter valued at $138,491,000. Encompass Capital Advisors LLC boosted its stake in shares of Tetra Technologies by 10.7% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,201,953 shares of the oil and gas company’s stock worth $27,281,000 after purchasing an additional 310,363 shares during the period. Wellington Management Group LLP grew its holdings in Tetra Technologies by 60.2% during the 2nd quarter. Wellington Management Group LLP now owns 2,343,491 shares of the oil and gas company’s stock valued at $26,552,000 after purchasing an additional 880,413 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Tetra Technologies by 1.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,744,530 shares of the oil and gas company’s stock worth $23,383,000 after purchasing an additional 38,155 shares during the period. Finally, Needham Investment Management LLC raised its position in Tetra Technologies by 55.7% in the 4th quarter. Needham Investment Management LLC now owns 2,375,000 shares of the oil and gas company’s stock worth $22,254,000 after purchasing an additional 850,000 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Tetra Technologies Trading Down 0.1%
The firm has a market cap of $908.11 million, a P/E ratio of 153.36 and a beta of 1.26. The company’s 50 day simple moving average is $7.02 and its 200-day simple moving average is $8.62. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43.
Tetra Technologies (NYSE:TTI – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $185.66 million during the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same period last year, the company earned $0.08 EPS. As a group, research analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.
Tetra Technologies Company Profile
Tetra Technologies, Inc (NYSE: TTI) is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.
Tetra’s Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.
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