Tetra Technologies (NYSE:TTI) Shares Gap Down on Disappointing Earnings

Tetra Technologies, Inc. (NYSE:TTI) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.14, but opened at $9.91. Tetra Technologies shares last traded at $9.0450, with a volume of 893,777 shares changing hands.

The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $146.68 million during the quarter, compared to the consensus estimate of $140.98 million. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%.

Analyst Ratings Changes

TTI has been the topic of a number of research reports. CJS Securities began coverage on shares of Tetra Technologies in a research note on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Clear Str cut Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Northland Securities boosted their price target on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Institutional Trading of Tetra Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in Tetra Technologies in the fourth quarter valued at approximately $33,000. Stone House Investment Management LLC acquired a new stake in shares of Tetra Technologies in the 4th quarter valued at approximately $39,000. State of Alaska Department of Revenue bought a new position in shares of Tetra Technologies in the third quarter valued at $28,000. Generali Investments Management Co LLC acquired a new position in Tetra Technologies during the fourth quarter worth $54,000. Finally, Allworth Financial LP increased its holdings in Tetra Technologies by 219.3% during the fourth quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company’s stock worth $56,000 after buying an additional 4,127 shares during the last quarter. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Price Performance

The stock has a market capitalization of $1.25 billion, a P/E ratio of 10.29 and a beta of 1.24. 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 company’s 50-day simple moving average is $10.70 and its 200-day simple moving average is $7.90.

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.