TETRA Technologies, Inc. (NYSE:TTI)’s share price was up 5.7% during mid-day trading on Monday . The company traded as high as $2.47 and last traded at $2.42. Approximately 932,243 shares traded hands during trading, an increase of 5% from the average daily volume of 889,483 shares. The stock had previously closed at $2.29.
Several research firms recently weighed in on TTI. Credit Suisse Group dropped their price objective on TETRA Technologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. TheStreet downgraded TETRA Technologies from a “c-” rating to a “d” rating in a research note on Tuesday, November 13th. Zacks Investment Research downgraded TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Raymond James downgraded TETRA Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 13th. Finally, ValuEngine downgraded TETRA Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.10.
The firm has a market cap of $300.45 million, a P/E ratio of -11.19, a price-to-earnings-growth ratio of 16.69 and a beta of 1.63. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.27 and a quick ratio of 1.45.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The company had revenue of $256.90 million for the quarter, compared to analyst estimates of $261.69 million. TETRA Technologies had a negative net margin of 10.56% and a negative return on equity of 3.15%. TETRA Technologies’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. As a group, research analysts expect that TETRA Technologies, Inc. will post -0.07 earnings per share for the current year.
In related news, Director Thomas R. Bates, Jr. bought 100,000 shares of the stock in a transaction on Wednesday, December 26th. The shares were purchased at an average price of $1.34 per share, for a total transaction of $134,000.00. Following the acquisition, the director now owns 243,044 shares in the company, valued at $325,678.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.69% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in TTI. BlackRock Inc. boosted its holdings in shares of TETRA Technologies by 14.3% during the second quarter. BlackRock Inc. now owns 17,933,646 shares of the oil and gas company’s stock worth $79,804,000 after purchasing an additional 2,246,857 shares during the last quarter. RK Capital Management LLC boosted its holdings in TETRA Technologies by 58.4% in the third quarter. RK Capital Management LLC now owns 1,290,969 shares of the oil and gas company’s stock valued at $5,822,000 after acquiring an additional 475,800 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in TETRA Technologies in the third quarter valued at $2,053,000. Morgan Stanley boosted its holdings in TETRA Technologies by 70.1% in the third quarter. Morgan Stanley now owns 804,926 shares of the oil and gas company’s stock valued at $3,630,000 after acquiring an additional 331,784 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in TETRA Technologies by 749.2% in the third quarter. GSA Capital Partners LLP now owns 266,227 shares of the oil and gas company’s stock valued at $1,201,000 after acquiring an additional 234,875 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.
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About TETRA Technologies (NYSE:TTI)
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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