Tetra Technologies, Inc. (NYSE:TTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $4.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.99% from the company’s previous close.
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 analysts also recently issued reports on the company. Morgan Stanley upped their price target on Tetra Technologies from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Wednesday. ValuEngine raised Tetra Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada reissued a “hold” rating on shares of Tetra Technologies in a report on Sunday. Credit Suisse Group boosted their price objective on shares of Tetra Technologies from $3.50 to $4.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Loop Capital boosted their price objective on shares of Tetra Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $5.00.
Tetra Technologies (NYSE TTI) opened at $3.54 on Thursday. Tetra Technologies has a 12-month low of $1.85 and a 12-month high of $5.98. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.38 and a current ratio of 2.24.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The firm had revenue of $216.36 million during the quarter, compared to the consensus estimate of $218.65 million. Tetra Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. analysts anticipate that Tetra Technologies will post -0.16 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of TTI. Formula Growth Ltd. raised its holdings in Tetra Technologies by 51.9% in the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after acquiring an additional 1,284,629 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tetra Technologies by 12.0% during the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock worth $40,573,000 after purchasing an additional 1,068,050 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tetra Technologies by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after purchasing an additional 774,482 shares during the period. State Street Corp raised its holdings in shares of Tetra Technologies by 20.1% during the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after purchasing an additional 613,376 shares during the period. Finally, Boston Partners raised its holdings in shares of Tetra Technologies by 8.7% during the third quarter. Boston Partners now owns 5,178,124 shares of the oil and gas company’s stock worth $14,809,000 after purchasing an additional 415,120 shares during the period. 91.18% of the stock is currently owned by hedge funds and other institutional investors.
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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