TETRA Technologies (NYSE:TTI) Downgraded to “Sell” at Zacks Investment Research

TETRA Technologies (NYSE:TTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services including well plugging and abandonment, decommissioning, and diving. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “

Shares of NYSE:TTI opened at $3.44 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.47 and a quick ratio of 1.57. The stock has a market capitalization of $435.46 million, a price-to-earnings ratio of 7.02 and a beta of 3.20. The stock’s 50-day simple moving average is $3.74. TETRA Technologies has a 1 year low of $0.47 and a 1 year high of $4.49.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, May 4th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). TETRA Technologies had a negative return on equity of 32.05% and a net margin of 12.44%. The firm had revenue of $77.32 million for the quarter, compared to analysts’ expectations of $77.90 million. As a group, equities analysts forecast that TETRA Technologies will post 0.01 earnings per share for the current fiscal year.

In other news, CFO Elijio V. Serrano bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The shares were purchased at an average cost of $3.31 per share, for a total transaction of $49,650.00. Following the completion of the purchase, the chief financial officer now owns 408,044 shares of the company’s stock, valued at $1,350,625.64. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp acquired a new position in TETRA Technologies in the first quarter valued at approximately $790,000. Sciencast Management LP acquired a new position in TETRA Technologies in the first quarter valued at approximately $26,000. Walleye Trading LLC acquired a new position in TETRA Technologies in the first quarter valued at approximately $28,000. Tudor Investment Corp Et Al acquired a new position in TETRA Technologies in the first quarter valued at approximately $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in TETRA Technologies in the first quarter valued at approximately $32,000. 48.26% of the stock is owned by hedge funds and other institutional investors.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. It operates through two segments, Completion Fluids & Products, and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.

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