TETRA Technologies (TTI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of TETRA Technologies (NYSE:TTI) from a buy rating to a hold rating in a research report released on Wednesday.

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. “

Other equities analysts have also issued reports about the stock. B. Riley set a $8.00 price objective on shares of TETRA Technologies and gave the company a buy rating in a research report on Friday, August 10th. Piper Jaffray Companies set a $5.00 price objective on shares of TETRA Technologies and gave the company a buy rating in a research report on Wednesday, October 3rd. Stifel Nicolaus initiated coverage on shares of TETRA Technologies in a research report on Monday, September 10th. They issued a buy rating and a $6.50 price objective for the company. Credit Suisse Group raised their price objective on shares of TETRA Technologies from $5.00 to $6.00 and gave the company an outperform rating in a research report on Monday, August 13th. Finally, Wells Fargo & Co raised their price objective on shares of TETRA Technologies from $5.50 to $6.00 and gave the company an outperform rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. TETRA Technologies has an average rating of Hold and a consensus price target of $5.61.

TTI stock opened at $3.06 on Wednesday. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.45 and a quick ratio of 1.66. TETRA Technologies has a 12 month low of $2.81 and a 12 month high of $5.11. The company has a market capitalization of $431.08 million, a PE ratio of -14.57, a PEG ratio of 2.76 and a beta of 1.28.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Thursday, November 8th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). TETRA Technologies had a negative net margin of 9.43% and a negative return on equity of 0.90%. The firm had revenue of $256.90 million during the quarter, compared to the consensus estimate of $261.69 million. During the same quarter last year, the business posted $0.04 earnings per share. TETRA Technologies’s revenue was up 18.7% compared to the same quarter last year. Equities research analysts predict that TETRA Technologies will post 0.04 EPS for the current year.

In related news, Director Thomas R. Bates, Jr. bought 10,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were acquired at an average cost of $4.38 per share, with a total value of $43,800.00. Following the completion of the purchase, the director now directly owns 143,044 shares of the company’s stock, valued at approximately $626,532.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James H. Funke sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total transaction of $175,350.00. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in TETRA Technologies in the second quarter valued at approximately $118,000. GSA Capital Partners LLP raised its stake in TETRA Technologies by 181.3% in the second quarter. GSA Capital Partners LLP now owns 31,352 shares of the oil and gas company’s stock valued at $140,000 after purchasing 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 second quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 16,372 shares in the last quarter. Barclays PLC raised its stake in shares of TETRA Technologies by 47.3% during the first quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 11,664 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of TETRA Technologies by 215.3% during the second quarter. Raymond James & Associates now owns 48,604 shares of the oil and gas company’s stock worth $216,000 after acquiring an additional 33,191 shares in the last quarter. 83.25% of the stock is currently owned by institutional investors and hedge funds.

About TETRA Technologies

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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