TETRA Technologies, Inc. (NYSE:TTI) has received an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.92.
A number of research firms have recently commented on TTI. B. Riley set a $8.00 target price on TETRA Technologies and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded TETRA Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Credit Suisse Group increased their target price on TETRA Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, August 13th. Piper Jaffray Companies set a $5.00 target price on TETRA Technologies and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Finally, Stifel Nicolaus began coverage on TETRA Technologies in a research report on Monday, September 10th. They set a “buy” rating and a $6.50 target price for the company.
In other news, Director Thomas R. Bates, Jr. bought 10,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was purchased at an average cost of $4.38 per share, for a total transaction of $43,800.00. Following the transaction, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TTI. BlackRock Inc. lifted its position in TETRA Technologies by 14.3% in the second quarter. BlackRock Inc. now owns 17,933,646 shares of the oil and gas company’s stock worth $79,804,000 after buying an additional 2,246,857 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TETRA Technologies by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,583,243 shares of the oil and gas company’s stock worth $33,746,000 after purchasing an additional 702,910 shares during the period. Renaissance Technologies LLC increased its stake in TETRA Technologies by 38.7% in the second quarter. Renaissance Technologies LLC now owns 1,943,200 shares of the oil and gas company’s stock worth $8,647,000 after purchasing an additional 541,900 shares during the period. Wells Fargo & Company MN increased its stake in TETRA Technologies by 11.9% in the second quarter. Wells Fargo & Company MN now owns 4,914,080 shares of the oil and gas company’s stock worth $21,867,000 after purchasing an additional 522,495 shares during the period. Finally, RK Capital Management LLC increased its stake in TETRA Technologies by 58.4% in the third quarter. RK Capital Management LLC now owns 1,290,969 shares of the oil and gas company’s stock worth $5,822,000 after purchasing an additional 475,800 shares during the period. Institutional investors own 84.17% of the company’s stock.
TTI stock traded down $0.10 during midday trading on Friday, hitting $2.03. The company’s stock had a trading volume of 907,600 shares, compared to its average volume of 795,400. TETRA Technologies has a 12 month low of $2.00 and a 12 month high of $5.11. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.27 and a quick ratio of 1.45. The company has a market capitalization of $275.31 million, a price-to-earnings ratio of -9.67 and a beta of 1.25.
TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The business had revenue of $256.90 million during the quarter, compared to the consensus estimate of $261.69 million. TETRA Technologies had a negative return on equity of 3.15% and a negative net margin of 10.56%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. Sell-side analysts anticipate that TETRA Technologies will post -0.07 EPS for the current fiscal year.
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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