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. ValuEngine upgraded shares of TETRA Technologies from a sell rating to a hold rating in a report on Thursday, August 1st. Stifel Nicolaus set a $4.00 price objective on shares of TETRA Technologies and gave the stock a buy rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. TETRA Technologies currently has a consensus rating of Hold and a consensus price target of $4.90.
Shares of TTI stock opened at $1.85 on Friday. The business has a 50 day moving average of $1.60. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.16 and a current ratio of 1.87. TETRA Technologies has a one year low of $1.25 and a one year high of $5.11. The firm has a market cap of $214.79 million, a price-to-earnings ratio of -37.00 and a beta of 1.80.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). TETRA Technologies had a negative net margin of 1.92% and a negative return on equity of 3.42%. The firm had revenue of $288.80 million for the quarter, compared to analyst estimates of $284.15 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts forecast that TETRA Technologies will post -0.06 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Connable Office Inc. purchased a new stake in TETRA Technologies during the 1st quarter worth approximately $29,000. Amalgamated Bank purchased a new stake in TETRA Technologies during the 4th quarter worth approximately $32,000. Emerald Mutual Fund Advisers Trust increased its stake in TETRA Technologies by 70.3% during 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 buying an additional 9,049 shares during the period. BNP Paribas Arbitrage SA increased its stake in TETRA Technologies by 913.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 25,671 shares of the oil and gas company’s stock worth $60,000 after buying an additional 23,137 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in TETRA Technologies during the 4th quarter worth approximately $59,000. 81.12% of the stock is currently owned by hedge funds and other institutional investors.
About TETRA Technologies
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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