Shares of TETRA Technologies, Inc. (NYSE:TTI) have been given an average rating of “Hold” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.81.
A number of analysts have commented on TTI shares. ValuEngine cut shares of TETRA Technologies from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research cut shares of TETRA Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Wells Fargo & Co upped their target price on shares of TETRA Technologies from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, August 10th. B. Riley set a $8.00 target price on shares of TETRA Technologies and gave the company a “buy” rating in a report on Sunday, October 7th. Finally, Stifel Nicolaus started coverage on shares of TETRA Technologies in a report on Monday, September 10th. They set a “buy” rating and a $6.50 target price for the company.
TTI stock traded down $0.16 during midday trading on Monday, reaching $3.06. 653,970 shares of the company’s stock traded hands, compared to its average volume of 951,735. TETRA Technologies has a 52-week low of $2.81 and a 52-week high of $5.11. The stock has a market cap of $431.08 million, a P/E ratio of -14.57, a P/E/G ratio of 2.76 and a beta of 1.28. 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 announced its earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $256.90 million for the quarter, compared to analysts’ expectations of $261.69 million. During the same period in the prior year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, equities analysts forecast that TETRA Technologies will post 0.04 earnings per share for the current year.
In other TETRA Technologies news, VP James H. Funke sold 35,000 shares of the company’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 value of $175,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Bates, Jr. purchased 10,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was purchased at an average price of $4.38 per share, with a total value of $43,800.00. Following the completion of the transaction, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TTI. BlackRock Inc. boosted its position in shares of 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 purchasing an additional 2,246,857 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of TETRA Technologies by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,880,333 shares of the oil and gas company’s stock worth $25,801,000 after purchasing an additional 923,514 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 boosted its position in shares of 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, Essex Investment Management Co. LLC bought a new position in shares of TETRA Technologies in the third quarter worth approximately $2,053,000. Institutional investors and hedge funds own 83.25% 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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