TETRA Technologies, Inc. (NYSE:TTI) has been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.87.
Several equities analysts have weighed in on the company. ValuEngine cut TETRA Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $4.20 target price (up from $4.00) on shares of TETRA Technologies in a research report on Thursday, March 1st. Scotia Howard Weill reaffirmed a “sector perform” rating on shares of TETRA Technologies in a research report on Friday, January 12th. Howard Weil lowered TETRA Technologies from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 12th. Finally, Scotiabank lowered TETRA Technologies to a “hold” rating in a research report on Thursday, January 11th.
In other TETRA Technologies news, VP Elisabeth K. Evans bought 7,600 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was purchased at an average cost of $3.90 per share, with a total value of $29,640.00. Following the transaction, the vice president now directly owns 63,342 shares in the company, valued at approximately $247,033.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TTI. Millennium Management LLC increased its holdings in TETRA Technologies by 303.6% in the 4th quarter. Millennium Management LLC now owns 4,161,247 shares of the oil and gas company’s stock worth $17,769,000 after acquiring an additional 3,130,315 shares during the last quarter. Huber Capital Management LLC purchased a new stake in TETRA Technologies in the 4th quarter worth about $5,439,000. Renaissance Technologies LLC increased its holdings in TETRA Technologies by 3,240.3% in the 4th quarter. Renaissance Technologies LLC now owns 788,300 shares of the oil and gas company’s stock worth $3,366,000 after acquiring an additional 764,700 shares during the last quarter. BlackRock Inc. increased its holdings in TETRA Technologies by 3.3% in the 4th quarter. BlackRock Inc. now owns 15,089,690 shares of the oil and gas company’s stock worth $64,433,000 after acquiring an additional 483,137 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in TETRA Technologies by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,052,924 shares of the oil and gas company’s stock worth $17,306,000 after acquiring an additional 435,331 shares during the last quarter. 90.00% of the stock is owned by institutional investors.
NYSE:TTI traded up $0.01 during trading hours on Thursday, hitting $3.67. 382,987 shares of the company traded hands, compared to its average volume of 900,780. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79. TETRA Technologies has a one year low of $1.85 and a one year high of $4.54. The stock has a market cap of $416.04, a PE ratio of -17.48, a price-to-earnings-growth ratio of 7.43 and a beta of 0.69.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). TETRA Technologies had a negative net margin of 4.76% and a negative return on equity of 4.20%. The company had revenue of $227.60 million for the quarter, compared to the consensus estimate of $211.40 million. During the same quarter last year, the business posted ($0.16) earnings per share. TETRA Technologies’s revenue was up 31.4% on a year-over-year basis. sell-side analysts forecast that TETRA Technologies will post 0.02 earnings per share for the current fiscal year.
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About TETRA Technologies
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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