TETRA Technologies (NYSE:TTI) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
TTI has been the topic of several other research reports. B. Riley began coverage on TETRA Technologies in a report on Friday, July 6th. They set a “buy” rating and a $8.00 price objective on the stock. Piper Jaffray Companies set a $5.00 price objective on TETRA Technologies and gave the company a “buy” rating in a report on Wednesday, October 3rd. Credit Suisse Group lifted their price objective on TETRA Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Monday, August 13th. Stifel Nicolaus began coverage on TETRA Technologies in a report on Monday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Finally, Wells Fargo & Co lifted their price objective on TETRA Technologies from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.61.
Shares of TETRA Technologies stock traded up $0.21 during trading on Thursday, hitting $3.22. 1,074,568 shares of the company were exchanged, compared to its average volume of 823,664. The firm has a market capitalization of $373.27 million, a P/E ratio of -15.33, a PEG ratio of 2.39 and a beta of 1.28. TETRA Technologies has a 1-year low of $2.86 and a 1-year high of $5.11. The company has a current ratio of 2.45, a quick ratio of 1.66 and a debt-to-equity ratio of 2.61.
TETRA Technologies (NYSE:TTI) last posted its earnings results on Thursday, August 9th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The company had revenue of $260.10 million during the quarter, compared to analyst estimates of $237.95 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. Research analysts anticipate that TETRA Technologies will post 0.04 EPS for the current fiscal year.
In other TETRA Technologies news, VP James H. Funke sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total value of $175,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas R. Bates, Jr. bought 10,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was purchased at an average price of $4.38 per share, for a total transaction of $43,800.00. Following the purchase, the director now directly owns 143,044 shares in the company, valued at approximately $626,532.72. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in TETRA Technologies in the 2nd quarter valued at approximately $118,000. Barclays PLC lifted its stake in TETRA Technologies by 47.3% in the 1st quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 11,664 shares in the last quarter. GSA Capital Partners LLP lifted its stake in TETRA Technologies by 181.3% in the 2nd quarter. GSA Capital Partners LLP now owns 31,352 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 20,205 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of TETRA Technologies by 87.4% during the 2nd quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 16,372 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of TETRA Technologies by 215.3% during the 2nd quarter. Raymond James & Associates now owns 48,604 shares of the oil and gas company’s stock worth $216,000 after purchasing an additional 33,191 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
TETRA Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.
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