TETRA Technologies (NYSE:TTI) Receives “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of TETRA Technologies (NYSE:TTI) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $8.00 target price on the oil and gas company’s stock.

Separately, Northland Securities began coverage on TETRA Technologies in a research note on Tuesday, February 20th. They set an outperform rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, TETRA Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $7.00.

TETRA Technologies Stock Down 13.8 %

Shares of TTI opened at $3.70 on Wednesday. The company’s fifty day moving average is $4.33 and its two-hundred day moving average is $4.50. TETRA Technologies has a fifty-two week low of $2.56 and a fifty-two week high of $6.77. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 1.07. The firm has a market cap of $485.22 million, a PE ratio of 23.13 and a beta of 2.21.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $153.13 million for the quarter, compared to the consensus estimate of $144.76 million. TETRA Technologies had a return on equity of 25.61% and a net margin of 3.27%. Analysts forecast that TETRA Technologies will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in TETRA Technologies by 168.1% during the 1st quarter. BNP Paribas Financial Markets now owns 250,888 shares of the oil and gas company’s stock worth $1,111,000 after buying an additional 157,295 shares during the period. Norden Group LLC acquired a new stake in TETRA Technologies during the 1st quarter valued at approximately $83,000. Principal Financial Group Inc. increased its holdings in TETRA Technologies by 15.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,251 shares during the last quarter. Simplicity Wealth LLC acquired a new position in shares of TETRA Technologies in the 1st quarter valued at approximately $85,000. Finally, PFG Investments LLC acquired a new position in shares of TETRA Technologies in the 1st quarter valued at approximately $44,000. 70.19% of the stock is owned by institutional investors and hedge funds.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division 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.