Tetra Technologies, Inc. (TTI) Rating Lowered to Sell at Zacks Investment Research
Tetra Technologies, Inc. (NYSE:TTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
A number of other equities research analysts also recently issued reports on TTI. Royal Bank Of Canada set a $3.00 price target on Tetra Technologies and gave the company a “hold” rating in a research note on Saturday, October 7th. Scotiabank set a $4.00 price target on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $4.00 price target on Tetra Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, J P Morgan Chase & Co downgraded Tetra Technologies from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.17.
Shares of Tetra Technologies (TTI) opened at 2.66 on Tuesday. Tetra Technologies has a 1-year low of $1.85 and a 1-year high of $6.34. The company’s market cap is $308.29 million. The stock has a 50 day moving average of $2.49 and a 200 day moving average of $2.89.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $208.37 million during the quarter, compared to the consensus estimate of $204.19 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Tetra Technologies’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities analysts forecast that Tetra Technologies will post ($0.18) EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in shares of Tetra Technologies by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 60,490 shares of the oil and gas company’s stock valued at $169,000 after acquiring an additional 200 shares during the period. Texas Permanent School Fund grew its stake in shares of Tetra Technologies by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 84,657 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 938 shares during the period. Mason Street Advisors LLC grew its stake in shares of Tetra Technologies by 7.8% during the 1st quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,961 shares during the period. Principal Financial Group Inc. grew its stake in shares of Tetra Technologies by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 901,989 shares of the oil and gas company’s stock valued at $2,517,000 after acquiring an additional 2,786 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Tetra Technologies by 1.6% during the 1st quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock valued at $789,000 after acquiring an additional 3,080 shares during the period. Institutional investors own 91.01% 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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