Tetra Technologies Inc. (TTI) Now Covered by Analysts at Loop Capital
Other analysts have also recently issued reports about the stock. Wunderlich lowered their price objective on shares of Tetra Technologies from $10.00 to $6.00 and set a buy rating for the company in a research note on Friday, June 10th. Zacks Investment Research cut shares of Tetra Technologies from a buy rating to a hold rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. set a $8.00 price objective on shares of Tetra Technologies and gave the company a buy rating in a research note on Tuesday, August 9th. Credit Suisse Group AG reissued an outperform rating and set a $8.00 price objective on shares of Tetra Technologies in a research note on Monday, July 18th. Finally, Simmons reissued an overweight rating and set a $7.60 price objective (up from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Tetra Technologies presently has an average rating of Buy and an average price target of $8.26.
Shares of Tetra Technologies (NYSE:TTI) traded down 4.010% during mid-day trading on Friday, hitting $5.865. The stock had a trading volume of 313,606 shares. The stock’s market cap is $543.71 million. The company’s 50 day moving average price is $6.06 and its 200 day moving average price is $6.14. Tetra Technologies has a 12-month low of $4.62 and a 12-month high of $9.44.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. The company earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. During the same period in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was down 44.5% compared to the same quarter last year. Equities research analysts predict that Tetra Technologies will post ($0.48) EPS for the current fiscal year.
In other news, VP Keith L. Schilling sold 24,341 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total value of $155,052.17. Following the sale, the vice president now owns 111,161 shares in the company, valued at approximately $708,095.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.45% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock valued at $53,476,000 after buying an additional 1,205,275 shares during the period. BlackRock Fund Advisors raised its stake in Tetra Technologies by 11.1% in the second quarter. BlackRock Fund Advisors now owns 6,046,509 shares of the company’s stock valued at $38,516,000 after buying an additional 602,102 shares during the period. Point72 Asset Management L.P. raised its stake in Tetra Technologies by 1,287.1% in the second quarter. Point72 Asset Management L.P. now owns 4,785,514 shares of the company’s stock valued at $30,484,000 after buying an additional 4,440,514 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Tetra Technologies by 20.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,278,360 shares of the company’s stock valued at $27,253,000 after buying an additional 714,921 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in Tetra Technologies by 13.8% in the second quarter. Neuberger Berman Group LLC now owns 3,120,752 shares of the company’s stock valued at $19,880,000 after buying an additional 377,646 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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