Howard Weil lowered shares of TETRA Technologies (NYSE:TTI) from a sector outperform rating to a sector perform rating in a research report sent to investors on Friday morning.
TTI has been the topic of a number of other research reports. Zacks Investment Research raised shares of TETRA Technologies from a sell rating to a hold rating in a research note on Wednesday, November 1st. Royal Bank of Canada set a $5.00 target price on shares of TETRA Technologies and gave the company a hold rating in a research note on Thursday, December 21st. Loop Capital lifted their target price on shares of TETRA Technologies from $5.00 to $6.00 and gave the company a buy rating in a research note on Friday, November 10th. Morgan Stanley lifted their target price on shares of TETRA Technologies from $3.00 to $4.00 and gave the company an equal weight rating in a research note on Wednesday, November 15th. Finally, Scotiabank lowered shares of TETRA Technologies to a hold rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $5.00.
Shares of TETRA Technologies (NYSE:TTI) opened at $4.39 on Friday. The firm has a market cap of $508.75, a PE ratio of -10.21 and a beta of 0.99. 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 52 week low of $1.85 and a 52 week high of $5.09.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $216.36 million for the quarter, compared to analyst estimates of $218.65 million. TETRA Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. sell-side analysts forecast that TETRA Technologies will post -0.14 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of TTI. Rhumbline Advisers lifted its position in TETRA Technologies by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 227,971 shares of the oil and gas company’s stock valued at $636,000 after acquiring an additional 20,066 shares during the period. Bank of New York Mellon Corp lifted its position in TETRA Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,696,129 shares of the oil and gas company’s stock valued at $4,732,000 after acquiring an additional 46,085 shares during the period. Legal & General Group Plc lifted its position in TETRA Technologies by 12.2% during the 2nd quarter. Legal & General Group Plc now owns 216,791 shares of the oil and gas company’s stock valued at $605,000 after acquiring an additional 23,533 shares during the period. American Century Companies Inc. purchased a new position in TETRA Technologies during the 2nd quarter valued at about $731,000. Finally, Principal Financial Group Inc. lifted its position in TETRA Technologies by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 901,989 shares of the oil and gas company’s stock valued at $2,517,000 after acquiring an additional 2,786 shares during the period. 90.55% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “TETRA Technologies (TTI) Downgraded to “Sector Perform” at Howard Weil” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/01/16/tetra-technologies-tti-downgraded-to-sector-perform-at-howard-weil.html.
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.
Receive News & Ratings for TETRA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TETRA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.