Tetra Technologies (NYSE:TTI) Reaches New 12-Month High – Here’s Why

Shares of Tetra Technologies, Inc. (NYSE:TTI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.94 and last traded at $11.9230, with a volume of 2367061 shares changing hands. The stock had previously closed at $11.44.

Analyst Upgrades and Downgrades

TTI has been the subject of a number of recent analyst reports. Clear Str downgraded Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday. CJS Securities began coverage on Tetra Technologies in a research report on Thursday, December 11th. They set an “outperform” rating and a $11.50 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Wall Street Zen lowered Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Northland Securities increased their price target on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tetra Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Stock Up 4.3%

The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 13.11 and a beta of 1.11. The stock has a 50 day simple moving average of $9.07 and a 200 day simple moving average of $6.55. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Tetra Technologies had a return on equity of 13.07% and a net margin of 19.75%.The company had revenue of $153.24 million for the quarter, compared to analyst estimates of $144.40 million. As a group, analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $7.94, for a total value of $152,900.58. Following the transaction, the vice president directly owned 132,672 shares of the company’s stock, valued at approximately $1,053,415.68. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.71% of the company’s stock.

Institutional Investors Weigh In On Tetra Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Tetra Technologies in the 3rd quarter worth about $28,000. Stone House Investment Management LLC bought a new stake in Tetra Technologies during the 4th quarter worth approximately $39,000. DKM Wealth Management Inc. purchased a new stake in shares of Tetra Technologies in the second quarter worth approximately $42,000. Osaic Holdings Inc. raised its stake in shares of Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Tetra Technologies in the second quarter valued at approximately $44,000. 70.19% of the stock is owned by institutional investors.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.