Tetra Technologies (NYSE:TTI) had its price target hoisted by Morgan Stanley from $3.00 to $4.00 in a report issued on Wednesday, November 15th. They currently have an equal weight rating on the oil and gas company’s stock.
Several other brokerages have also recently commented on TTI. Loop Capital boosted their target price on Tetra Technologies from $5.00 to $6.00 and gave the stock a buy rating in a report on Friday, November 10th. Credit Suisse Group boosted their target price on Tetra Technologies from $3.50 to $4.00 and gave the stock an outperform rating in a report on Friday, November 10th. Royal Bank Of Canada reaffirmed a hold rating on shares of Tetra Technologies in a report on Sunday, November 12th. ValuEngine raised Tetra Technologies from a strong sell rating to a sell rating in a report on Tuesday, November 14th. Finally, Wells Fargo & Company upped their price target on Tetra Technologies from $3.50 to $5.00 and gave the company an outperform rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $4.73.
Tetra Technologies (TTI) traded down $0.02 on Wednesday, hitting $4.11. The stock had a trading volume of 1,864,496 shares, compared to its average volume of 1,312,538. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.63. Tetra Technologies has a 52 week low of $1.85 and a 52 week high of $5.98.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. Tetra Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The company had revenue of $216.36 million for the quarter, compared to analysts’ expectations of $218.65 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. analysts anticipate that Tetra Technologies will post -0.16 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new position in Tetra Technologies during the 2nd quarter worth approximately $356,000. FMR LLC grew its position in Tetra Technologies by 2.1% during the 2nd quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock worth $34,199,000 after purchasing an additional 250,100 shares in the last quarter. Viking Fund Management LLC grew its position in Tetra Technologies by 13.2% during the 2nd quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock worth $1,674,000 after purchasing an additional 70,000 shares in the last quarter. Vanguard Group Inc. grew its position in Tetra Technologies by 6.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock worth $29,559,000 after purchasing an additional 625,816 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Tetra Technologies by 0.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,928,054 shares of the oil and gas company’s stock worth $5,379,000 after purchasing an additional 12,504 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors.
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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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