Tetra Technologies (NYSE:TTI) Issues Earnings Results, Misses Estimates By $0.01 EPS

Tetra Technologies (NYSE:TTI) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%.

Tetra Technologies Stock Performance

NYSE TTI traded up $0.03 during trading on Wednesday, reaching $11.23. 2,046,762 shares of the company’s stock were exchanged, compared to its average volume of 1,849,777. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.35 and a quick ratio of 1.56. The business has a 50 day moving average price of $10.65 and a 200-day moving average price of $7.88. The stock has a market capitalization of $1.50 billion, a P/E ratio of 12.34 and a beta of 1.24. Tetra Technologies has a fifty-two week low of $2.03 and a fifty-two week high of $12.54.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Tetra Technologies by 87.3% during the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock valued at $405,000 after purchasing an additional 56,203 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Tetra Technologies by 125.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock valued at $544,000 after purchasing an additional 90,001 shares during the period. Jane Street Group LLC lifted its stake in shares of Tetra Technologies by 389.7% during the 1st quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after buying an additional 302,793 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tetra Technologies by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after buying an additional 3,547 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Tetra Technologies by 74.4% during the 2nd quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $60,000 after buying an additional 7,590 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTI has been the topic of a number of recent research reports. Northland Securities lifted their target price on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research report on Wednesday, December 31st. Stifel Nicolaus lifted their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. Clear Str downgraded shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Finally, CJS Securities started coverage on Tetra Technologies in a report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.