Tetra Technologies Inc. (TTI) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “TETRA Technologies, Inc. is an energy services company with an integrated chemicals operation that supplies chemical products to energy markets, as well as other markets. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “
Several other research firms have also commented on TTI. Loop Capital started coverage on shares of Tetra Technologies in a research report on Friday, September 30th. They issued a buy rating on the stock. Simmons reiterated an overweight rating and issued a $7.60 price target (up from $7.35) on shares of Tetra Technologies in a research report on Wednesday, August 10th. Morgan Stanley set a $10.00 price target on shares of Tetra Technologies and gave the company a buy rating in a research report on Wednesday, September 28th. Wunderlich raised their target price on shares of Tetra Technologies from $9.00 to $10.00 and gave the stock a buy rating in a research report on Thursday, June 16th. Finally, JPMorgan Chase & Co. set a $8.00 target price on shares of Tetra Technologies and gave the stock a buy rating in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Tetra Technologies has an average rating of Buy and a consensus target price of $8.26.
Tetra Technologies (NYSE:TTI) traded down 1.17% during mid-day trading on Thursday, reaching $5.92. 301,828 shares of the company traded hands. Tetra Technologies has a 52-week low of $4.62 and a 52-week high of $9.44. The stock has a 50-day moving average of $5.97 and a 200 day moving average of $6.12. The stock’s market capitalization is $548.81 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. The business had revenue of $175.66 million for the quarter, compared to analyst estimates of $188.42 million. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. The company’s quarterly revenue was down 44.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share. Equities research analysts expect that Tetra Technologies will post ($0.48) earnings per share for the current year.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the transaction, the vice president now directly owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.45% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. raised its position in shares of Tetra Technologies by 9.5% in the third quarter. Capstone Asset Management Co. now owns 23,612 shares of the company’s stock valued at $144,000 after buying an additional 2,056 shares in the last quarter. Creative Planning bought a new position in shares of Tetra Technologies during the third quarter valued at $122,000. Mason Street Advisors LLC bought a new position in shares of Tetra Technologies during the second quarter valued at $112,000. Royal Bank of Canada raised its position in shares of Tetra Technologies by 3.7% in the second quarter. Royal Bank of Canada now owns 48,301 shares of the company’s stock valued at $308,000 after buying an additional 1,736 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Tetra Technologies by 27.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,242,814 shares of the company’s stock valued at $7,917,000 after buying an additional 265,957 shares in the last quarter. 89.92% of the stock is owned by institutional investors.
Tetra Technologies Company Profile
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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