TETRA Technologies (TTI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of TETRA Technologies (NYSE:TTI) from a buy rating to a hold rating in a research note published on Saturday, January 6th.

According to Zacks, “TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services including well plugging and abandonment, decommissioning, and diving. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “

TTI has been the subject of several other reports. Royal Bank of Canada set a $5.00 target price on TETRA Technologies and gave the stock a hold rating in a research report on Thursday, December 21st. Credit Suisse Group raised their price target on TETRA Technologies from $3.50 to $4.00 and gave the company an outperform rating in a research note on Friday, November 10th. Piper Jaffray Companies set a $4.00 target price on TETRA Technologies and gave the company a buy rating in a research note on Wednesday, October 11th. Morgan Stanley lifted their target price on 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, ValuEngine upgraded TETRA Technologies from a strong sell rating to a sell rating in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $5.00.

Shares of TETRA Technologies (NYSE TTI) traded up $0.04 on Friday, reaching $3.87. 19,940 shares of the company’s stock were exchanged, compared to its average volume of 780,958. The company has a quick ratio of 1.38, a current ratio of 2.24 and a debt-to-equity ratio of 1.63. TETRA Technologies has a twelve month low of $1.85 and a twelve month high of $5.09.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $216.36 million during the quarter, compared to the consensus estimate of $218.65 million. TETRA Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. analysts forecast that TETRA Technologies will post -0.15 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position 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 buying an additional 44,703 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of 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 purchasing an additional 36,687 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of 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 purchasing an additional 24,198 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of 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 purchasing an additional 23,839 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of 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 purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.

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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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