Tetra Technologies Inc. (TTI) Now Covered by Analysts at Wells Fargo & Co.
Several other research firms have also issued reports on TTI. Zacks Investment Research raised Tetra Technologies from a hold rating to a buy rating and set a $7.25 price objective for the company in a research note on Wednesday, July 13th. Credit Suisse Group AG reiterated an outperform rating and issued a $8.00 price objective on shares of Tetra Technologies in a report on Monday, July 18th. Simmons reiterated an overweight rating and issued a $7.60 price objective (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 price objective on Tetra Technologies and gave the stock a buy rating in a report on Tuesday, August 9th. Finally, Loop Capital began coverage on Tetra Technologies in a report on Friday, September 30th. They issued a buy rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $8.26.
Tetra Technologies (NYSE:TTI) traded up 1.68% during mid-day trading on Tuesday, reaching $6.06. The company had a trading volume of 186,153 shares. The stock has a 50-day moving average of $5.95 and a 200 day moving average of $6.11. Tetra Technologies has a 12-month low of $4.62 and a 12-month high of $9.44. The company’s market capitalization is $561.79 million.
Tetra Technologies (NYSE:TTI) last posted 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. The company earned $175.66 million during the quarter, compared to analyst estimates of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The firm’s quarterly revenue was down 44.5% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share. On average, analysts expect that Tetra Technologies will post ($0.48) EPS for the current year.
In related news, VP Keith L. Schilling sold 24,341 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total value of $155,052.17. Following the transaction, the vice president now directly owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.45% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TTI. BlackRock Fund Advisors boosted its position in Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock valued at $34,572,000 after buying an additional 16,658 shares during the period. Prudential Financial Inc. boosted its position in Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock valued at $2,097,000 after buying an additional 97,200 shares during the period. HBK Investments L P boosted its position in Tetra Technologies by 1.2% in the first quarter. HBK Investments L P now owns 377,436 shares of the company’s stock valued at $2,397,000 after buying an additional 4,636 shares during the period. Boston Partners boosted its position in Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock valued at $18,075,000 after buying an additional 1,222,597 shares during the period. Finally, Bank of Montreal Can acquired a new position in Tetra Technologies during the second quarter valued at about $358,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.
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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