TETRA Technologies, Inc. (NYSE:TTI) has been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $5.81.
TTI has been the topic of a number of recent research reports. Wells Fargo & Co increased their target price on TETRA Technologies from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, August 10th. B. Riley initiated coverage on TETRA Technologies in a report on Friday, July 6th. They issued a “buy” rating and a $8.00 target price on the stock. Stifel Nicolaus initiated coverage on TETRA Technologies in a report on Monday, September 10th. They issued a “buy” rating and a $6.50 target price on the stock. ValuEngine raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Zacks Investment Research downgraded TETRA Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th.
In other TETRA Technologies news, VP James H. Funke sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total value of $175,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its position in TETRA Technologies by 8.5% in the first quarter. Legal & General Group Plc now owns 230,954 shares of the oil and gas company’s stock worth $860,000 after buying an additional 18,039 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of TETRA Technologies by 10.7% during the first quarter. Principal Financial Group Inc. now owns 978,888 shares of the oil and gas company’s stock worth $3,671,000 after purchasing an additional 94,894 shares in the last quarter. Spark Investment Management LLC grew its position in shares of TETRA Technologies by 164.9% during the second quarter. Spark Investment Management LLC now owns 220,400 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 137,200 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of TETRA Technologies during the second quarter worth about $1,800,000. Finally, Wells Fargo & Company MN grew its position in shares of TETRA Technologies by 11.9% during the second quarter. Wells Fargo & Company MN now owns 4,914,080 shares of the oil and gas company’s stock worth $21,867,000 after purchasing an additional 522,495 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
TTI stock traded up $0.04 during trading on Friday, reaching $4.34. The stock had a trading volume of 16,761 shares, compared to its average volume of 479,941. TETRA Technologies has a 52 week low of $2.51 and a 52 week high of $5.11. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.66 and a current ratio of 2.45. The company has a market cap of $545.45 million, a price-to-earnings ratio of -20.81, a P/E/G ratio of 2.18 and a beta of 0.88.
TETRA Technologies (NYSE:TTI) last posted its earnings results on Thursday, August 9th. The oil and gas company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The company had revenue of $260.10 million for the quarter, compared to the consensus estimate of $237.95 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. TETRA Technologies’s revenue was up 44.6% on a year-over-year basis. equities analysts predict that TETRA Technologies will post 0.07 earnings per share for the current year.
About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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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