TETRA Technologies (TTI) Cut to Hold at Scotiabank

TETRA Technologies (NYSE:TTI) was downgraded by investment analysts at Scotiabank to a “hold” rating in a research note issued on Thursday.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated a “hold” rating on shares of TETRA Technologies in a research note on Sunday, November 12th. Piper Jaffray Companies set a $4.00 target price on shares of TETRA Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of TETRA Technologies from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday, November 16th. Credit Suisse Group upped their price objective on shares of TETRA Technologies from $3.50 to $4.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, Loop Capital upped their price objective on shares of TETRA Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $5.00.

TETRA Technologies (TTI) traded up $0.18 during trading hours on Thursday, reaching $4.31. 1,444,260 shares of the company’s stock traded hands, compared to its average volume of 887,229. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.38 and a current ratio of 2.24. TETRA Technologies has a 12 month low of $1.85 and a 12 month high of $5.09. The stock has a market cap of $499.48, a P/E ratio of -10.02 and a beta of 0.99.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. TETRA Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The business had revenue of $216.36 million during the quarter, compared to analysts’ expectations of $218.65 million. During the same period in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. research analysts anticipate that TETRA Technologies will post -0.14 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in TTI. JPMorgan Chase & Co. grew its holdings in shares of TETRA Technologies by 3,012.3% in the second quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 44,703 shares during the period. Cubist Systematic Strategies LLC boosted its stake in TETRA Technologies by 326.0% during the second quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock worth $134,000 after buying an additional 36,687 shares during the period. GSA Capital Partners LLP boosted its stake in TETRA Technologies by 73.7% during the second quarter. GSA Capital Partners LLP now owns 57,037 shares of the oil and gas company’s stock worth $159,000 after buying an additional 24,198 shares during the period. BNP Paribas Arbitrage SA boosted its stake in TETRA Technologies by 68.0% during the third quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock worth $168,000 after buying an additional 23,839 shares during the period. Finally, Arizona State Retirement System boosted its stake in TETRA Technologies by 0.3% during the second quarter. Arizona State Retirement System now owns 60,490 shares of the oil and gas company’s stock worth $169,000 after buying an additional 200 shares during the period. 90.55% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for TETRA Technologies (NYSE:TTI)

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