Tetra Technologies (NYSE:TTI) Releases Earnings Results

Tetra Technologies (NYSE:TTI) posted its quarterly earnings results on Monday. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01, FiscalAI reports. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $167.95 million during the quarter, compared to analyst estimates of $156.84 million.

Tetra Technologies Price Performance

Shares of NYSE:TTI traded down $0.32 during midday trading on Monday, reaching $5.54. 2,912,330 shares of the company were exchanged, compared to its average volume of 1,906,258. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average is $6.16 and its two-hundred day moving average is $8.75. Tetra Technologies has a one year low of $4.87 and a one year high of $12.54. The stock has a market cap of $819.86 million, a PE ratio of 138.46 and a beta of 1.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TTI shares. Stifel Nicolaus cut their price target on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Northland Securities set a $10.00 price objective on Tetra Technologies in a research note on Tuesday, September 1st. Finally, Clear Str raised Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Tetra Technologies presently has an average rating of “Buy” and an average target price of $11.17.

Insiders Place Their Bets

In related news, Director Angela John purchased 10,000 shares of Tetra Technologies stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $6.50 per share, for a total transaction of $65,000.00. Following the acquisition, the director owned 97,434 shares in the company, valued at approximately $633,321. The trade was a 11.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.27% of the company’s stock.

Tetra Technologies Company Profile

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA’s Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.