Tetra Technologies, Inc. (TTI) Given a $3.00 Price Target by Royal Bank Of Canada Analysts
Tetra Technologies, Inc. (NYSE:TTI) has been given a $3.00 price target by investment analysts at Royal Bank Of Canada in a research note issued on Saturday. The firm presently has a “hold” rating on the oil and gas company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 9.89% from the stock’s current price.
Several other research analysts have also recently commented on TTI. Zacks Investment Research upgraded Tetra Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Scotiabank set a $4.00 price objective on Tetra Technologies and gave the company a “buy” rating in a report on Tuesday, August 22nd. BidaskClub lowered Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. J P Morgan Chase & Co lowered Tetra Technologies from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Finally, ValuEngine lowered Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $5.31.
Tetra Technologies (NYSE:TTI) opened at 2.73 on Friday. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $6.34. The stock’s market cap is $316.40 million. The stock has a 50 day moving average price of $2.36 and a 200-day moving average price of $2.95.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. During the same quarter last year, the firm posted ($0.15) EPS. The company’s revenue was up 18.6% compared to the same quarter last year. On average, equities analysts expect that Tetra Technologies will post ($0.18) earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its holdings in Tetra Technologies by 1.6% in 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 bought a new stake in Tetra Technologies in the second quarter valued at about $356,000. Viking Fund Management LLC increased its holdings in Tetra Technologies by 13.2% in 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. Neuberger Berman Group LLC increased its holdings in Tetra Technologies by 3.9% in the first 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 buying an additional 116,893 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Tetra Technologies by 12.1% in the first quarter. Ameriprise Financial Inc. now owns 2,968,831 shares of the oil and gas company’s stock valued at $12,083,000 after buying an additional 320,943 shares during the last quarter. 91.01% of the stock is owned by hedge funds and other institutional investors.
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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