Tetra Technologies, Inc. (NYSE:TTI) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Tetra Technologies, Inc. (NYSE:TTI) from a hold rating to a sell rating in a research report report published on Tuesday, October 17th.

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 have also issued reports on TTI. Scotiabank set a $4.00 target price on Tetra Technologies and gave the company a buy rating in a report on Tuesday, August 22nd. Royal Bank Of Canada set a $3.00 target price on Tetra Technologies and gave the company a hold rating in a report on Saturday, October 7th. BidaskClub lowered Tetra Technologies from a sell rating to a strong sell rating in a report on Thursday, July 27th. Piper Jaffray Companies set a $4.00 price objective on Tetra Technologies and gave the stock a buy rating in a report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. lowered Tetra Technologies from an overweight rating to a neutral rating in a report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $5.17.

Tetra Technologies (TTI) opened at 2.66 on Tuesday. The company has a 50 day moving average of $2.60 and a 200-day moving average of $2.83. The stock’s market capitalization is $308.29 million. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $5.98.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). The business had revenue of $208.37 million during 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%. Tetra Technologies’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) EPS. On average, equities research analysts forecast that Tetra Technologies will post ($0.18) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Tetra Technologies by 107.2% in the first quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock valued at $48,870,000 after purchasing an additional 6,213,696 shares during the last quarter. Formula Growth Ltd. grew its position in Tetra Technologies by 51.9% during the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock worth $10,495,000 after buying an additional 1,284,629 shares in the last quarter. Vanguard Group Inc. grew its position in Tetra Technologies by 12.0% during the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after buying an additional 1,068,050 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Tetra Technologies by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after purchasing an additional 774,482 shares during the period. Finally, State Street Corp lifted its stake in Tetra Technologies by 20.1% during the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after purchasing an additional 613,376 shares during the period. Institutional investors own 90.76% of the company’s stock.

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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