Tetra Technologies, Inc. (NYSE:TTI) Upgraded to Hold by Zacks Investment Research
Tetra Technologies, Inc. (NYSE:TTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
TTI has been the subject of a number of other reports. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Morgan Stanley dropped their target price on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $3.25 target price on shares of Tetra Technologies in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four 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 company currently has an average rating of “Buy” and a consensus target price of $5.67.
Shares of Tetra Technologies (NYSE:TTI) opened at 1.99 on Friday. The stock’s market cap is $227.92 million. Tetra Technologies has a 52-week low of $1.99 and a 52-week high of $6.77. The company’s 50 day moving average price is $2.69 and its 200 day moving average price is $3.56.
Tetra Technologies (NYSE:TTI) last announced its earnings results 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. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The company 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 firm posted ($0.15) earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. On average, analysts anticipate that Tetra Technologies will post ($0.17) earnings per share for the current year.
Large investors have recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Tetra Technologies by 35.1% in the first quarter. Comerica Bank now owns 164,397 shares of the oil and gas company’s stock valued at $559,000 after buying an additional 42,721 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tetra Technologies by 9.6% in the first quarter. Bank of New York Mellon Corp now owns 1,650,044 shares of the oil and gas company’s stock valued at $6,717,000 after buying an additional 144,630 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Tetra Technologies during the first quarter valued at approximately $144,000. Boston Partners boosted its stake in shares of 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 in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock valued at $16,230,000 after buying an additional 753,964 shares in the last quarter. Institutional investors own 93.54% 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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