Tetra Technologies, Inc. (TTI) Stock Rating Lowered by J P Morgan Chase & Co
J P Morgan Chase & Co downgraded shares of Tetra Technologies, Inc. (NYSE:TTI) from an overweight rating to a neutral rating in a report released on Tuesday morning, MarketBeat Ratings reports.
TTI has been the subject of a number of other research reports. Scotiabank set a $4.00 price target on shares of Tetra Technologies and gave the stock a buy rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised shares of Tetra Technologies from a sell rating to a hold rating in a research report on Thursday, September 7th. ValuEngine downgraded shares of Tetra Technologies from a sell rating to a strong sell rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Tetra Technologies from a sell rating to a strong sell rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a hold rating and set a $3.25 price target on shares of Tetra Technologies in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $5.33.
Shares of Tetra Technologies (TTI) opened at 2.49 on Tuesday. Tetra Technologies has a 12 month low of $1.85 and a 12 month high of $6.34. The stock’s 50 day moving average is $2.19 and its 200 day moving average is $3.09. The stock’s market cap is $288.58 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The company had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. During the same period in the previous year, the business posted ($0.15) EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts predict that Tetra Technologies will post ($0.18) earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Tetra Technologies by 2.1% in the second quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock worth $34,199,000 after purchasing an additional 250,100 shares during the period. Vanguard Group Inc. boosted its holdings in Tetra Technologies by 6.3% in the second quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock worth $29,559,000 after purchasing an additional 625,816 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tetra Technologies by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after purchasing an additional 774,482 shares during the period. Wells Fargo & Company MN boosted its holdings in Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock worth $16,230,000 after purchasing an additional 753,964 shares during the period. Finally, Formula Growth Ltd. boosted its holdings in Tetra Technologies by 51.9% in the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock worth $10,495,000 after purchasing an additional 1,284,629 shares during the period. 91.02% of the stock is owned by hedge funds and other institutional investors.
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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