Tetra Technologies (NYSE:TTI) Trading Up 9.2% – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s stock price shot up 9.2% during trading on Wednesday . The company traded as high as $11.21 and last traded at $11.4150. 1,034,274 shares were traded during trading, a decline of 44% from the average session volume of 1,840,430 shares. The stock had previously closed at $10.45.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. CJS Securities assumed coverage on Tetra Technologies in a research note on Thursday, December 11th. They set an “outperform” rating and a $11.50 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday. Northland Securities boosted their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research report on Wednesday, December 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday. Finally, Wall Street Zen cut Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Tetra Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Trading Up 7.5%

The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.35 and a beta of 1.11. The business’s 50 day moving average is $8.62 and its two-hundred day moving average is $6.23. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The firm had revenue of $153.24 million during the quarter, compared to analyst estimates of $144.40 million. Analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Insider Activity at Tetra Technologies

In related news, VP Shoemake Alicia R. Boston sold 19,257 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $7.94, for a total transaction of $152,900.58. Following the sale, the vice president owned 132,672 shares of the company’s stock, valued at $1,053,415.68. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Tetra Technologies by 2.5% in the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after buying an additional 1,754 shares during the period. Diversified Trust Co. raised its position in Tetra Technologies by 5.6% in the fourth quarter. Diversified Trust Co. now owns 45,436 shares of the oil and gas company’s stock worth $426,000 after acquiring an additional 2,396 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Tetra Technologies by 11.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,977 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 3,281 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Tetra Technologies by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock valued at $1,309,000 after acquiring an additional 3,547 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Tetra Technologies by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,840 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 3,551 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.