Tetra Technologies Inc. (TTI) Upgraded by Howard Weil to “Sector Outperform”
Howard Weil upgraded shares of Tetra Technologies Inc. (NYSE:TTI) from a sector perform rating to a sector outperform rating in a research note released on Wednesday. They currently have $8.00 price objective on the stock.
Other research analysts have also recently issued research reports about the stock. Loop Capital initiated coverage on shares of Tetra Technologies in a report on Friday, September 30th. They issued a buy rating on the stock. Morgan Stanley set a $10.00 target price on shares of Tetra Technologies and gave the stock a buy rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Tetra Technologies from a hold rating to a buy rating and set a $7.00 target price on the stock in a report on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 target price on shares of Tetra Technologies and gave the stock a buy rating in a report on Tuesday, August 9th. Finally, Credit Suisse Group AG set a $8.00 target price on shares of Tetra Technologies and gave the stock a buy rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $7.87.
Shares of Tetra Technologies (NYSE:TTI) traded up 1.11% during mid-day trading on Wednesday, reaching $5.45. 361,779 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $5.68 and a 200 day moving average of $5.90. The firm’s market capitalization is $505.13 million. Tetra Technologies has a one year low of $4.40 and a one year high of $9.44.
Tetra Technologies (NYSE:TTI) last issued its earnings results on Monday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Tetra Technologies had a negative net margin of 35.47% and a negative return on equity of 8.79%. The firm had revenue of $176.55 million for the quarter, compared to analysts’ expectations of $205.33 million. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue was down 42.1% on a year-over-year basis. On average, analysts forecast that Tetra Technologies will post ($0.49) EPS for the current fiscal year.
In related news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total value of $155,052.17. Following the completion of the sale, the vice president now directly owns 111,161 shares in the company, valued at approximately $708,095.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.45% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new stake in Tetra Technologies during the second quarter worth about $103,000. SG Americas Securities LLC increased its stake in Tetra Technologies by 27.8% in the second quarter. SG Americas Securities LLC now owns 16,182 shares of the company’s stock worth $103,000 after buying an additional 3,523 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock worth $108,000 after buying an additional 166 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in Tetra Technologies during the second quarter worth about $112,000. Finally, Profund Advisors LLC increased its stake in Tetra Technologies by 1.1% in the second quarter. Profund Advisors LLC now owns 18,326 shares of the company’s stock worth $117,000 after buying an additional 208 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.
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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