Tetra Technologies (NYSE:TTI) Issues Quarterly Earnings Results

Tetra Technologies (NYSE:TTI) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. The company had revenue of $146.68 million during the quarter, compared to analysts’ expectations of $140.98 million. Tetra Technologies had a net margin of 0.48% and a return on equity of 12.53%.

Tetra Technologies Stock Performance

Shares of Tetra Technologies stock traded down $0.36 during trading hours on Friday, hitting $8.70. 614,035 shares of the company were exchanged, compared to its average volume of 1,935,683. The company has a current ratio of 2.35, a quick ratio of 1.56 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $10.70 and a 200-day moving average of $7.91. Tetra Technologies has a 1 year low of $2.03 and a 1 year high of $12.54. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 433.85 and a beta of 1.24.

Hedge Funds Weigh In On Tetra Technologies

Several institutional investors have recently bought and sold shares of TTI. Xponance LLC purchased a new position in Tetra Technologies during the fourth quarter worth about $94,000. State of Wyoming boosted its holdings in Tetra Technologies by 23.3% in the 4th quarter. State of Wyoming now owns 9,703 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 1,834 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Tetra Technologies during the 4th quarter worth approximately $97,000. CIBC Bancorp USA Inc. purchased a new position in shares of Tetra Technologies during the 3rd quarter worth approximately $78,000. Finally, PharVision Advisers LLC purchased a new position in shares of Tetra Technologies during the 3rd quarter worth approximately $80,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TTI has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Wall Street Zen cut Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Northland Securities increased their price objective on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a report on Wednesday, December 31st. Finally, CJS Securities assumed coverage on shares of Tetra Technologies in a report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.25.

About Tetra Technologies

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.