Tetra Technologies, Inc. (TTI) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Tetra Technologies, Inc. (NYSE:TTI) from a sell rating to a hold rating in a report published on Thursday.
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. “
A number of other analysts also recently weighed in on the company. Morgan Stanley dropped their target price on Tetra Technologies from $5.50 to $4.00 and set an equal weight rating for the company in a research report on Wednesday, June 21st. 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. BidaskClub downgraded Tetra Technologies from a sell rating to a strong sell rating in a research report on Thursday, July 27th. ValuEngine downgraded Tetra Technologies from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, Scotiabank set a $4.00 price objective on Tetra Technologies and gave the company a buy rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $5.33.
Tetra Technologies (NYSE TTI) traded down 2.84% during trading on Thursday, hitting $2.05. 2,113,689 shares of the company traded hands. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $6.34. The stock has a 50 day moving average price of $2.26 and a 200 day moving average price of $3.17. The company’s market capitalization is $237.59 million.
Tetra Technologies (NYSE:TTI) last posted 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. The company had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) EPS. On average, equities analysts anticipate that Tetra Technologies will post ($0.18) earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of TTI. Teachers Advisors LLC increased its stake in shares of Tetra Technologies by 17.5% during the fourth quarter. Teachers Advisors LLC now owns 177,404 shares of the oil and gas company’s stock valued at $891,000 after buying an additional 26,448 shares during the period. Bank of Montreal Can increased its stake in shares of Tetra Technologies by 148.8% during the first quarter. Bank of Montreal Can now owns 163,984 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 98,067 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Tetra Technologies by 26.3% during the first quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 9,800 shares during the period. Nationwide Fund Advisors increased its stake in shares of Tetra Technologies by 11.5% during the first quarter. Nationwide Fund Advisors now owns 404,907 shares of the oil and gas company’s stock valued at $1,648,000 after buying an additional 41,671 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Tetra Technologies by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 1,915,550 shares of the oil and gas company’s stock valued at $7,796,000 after buying an additional 425,840 shares during the period. 91.02% of the stock is currently owned by hedge funds and other institutional investors.
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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