TETRA Technologies (NYSE:TTI) Rating Increased to Hold at ValuEngine

TETRA Technologies (NYSE:TTI) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus set a $4.00 price objective on shares of TETRA Technologies and gave the stock a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research cut shares of TETRA Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.60.

Shares of TTI stock traded down $0.04 on Thursday, reaching $1.46. 369,041 shares of the company were exchanged, compared to its average volume of 479,686. The stock has a market capitalization of $195.95 million, a P/E ratio of -29.20 and a beta of 1.80. The firm has a 50-day simple moving average of $1.61. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 2.98. TETRA Technologies has a one year low of $1.29 and a one year high of $5.11.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Thursday, May 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $243.73 million for the quarter, compared to the consensus estimate of $252.83 million. TETRA Technologies had a negative return on equity of 1.68% and a negative net margin of 1.88%. TETRA Technologies’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Equities research analysts predict that TETRA Technologies will post -0.06 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connable Office Inc. acquired a new stake in shares of TETRA Technologies in the 1st quarter worth about $29,000. Amalgamated Bank acquired a new stake in shares of TETRA Technologies in the 4th quarter worth about $32,000. Emerald Mutual Fund Advisers Trust raised its holdings in shares of TETRA Technologies by 70.3% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 21,930 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 9,049 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of TETRA Technologies by 913.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 25,671 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 23,137 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of TETRA Technologies in the 4th quarter worth about $59,000. Institutional investors own 81.35% 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 Completion Fluids segment 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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Analyst Recommendations for TETRA Technologies (NYSE:TTI)

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