TETRA Technologies (NYSE:TTI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

TETRA Technologies Price Performance

NYSE:TTI opened at $3.40 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.41 and a quick ratio of 1.72. The firm has a market cap of $446.93 million, a price-to-earnings ratio of 42.51 and a beta of 2.04. The company has a 50 day moving average price of $3.11 and a 200-day moving average price of $3.58. TETRA Technologies has a 1-year low of $2.68 and a 1-year high of $6.77.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The firm had revenue of $171.94 million for the quarter, compared to analysts’ expectations of $180.66 million. TETRA Technologies had a net margin of 1.61% and a return on equity of 18.84%. Equities research analysts forecast that TETRA Technologies will post 0.18 EPS for the current year.

Hedge Funds Weigh In On TETRA Technologies

Several institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd grew its stake in TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 5,966 shares during the period. nVerses Capital LLC acquired a new stake in TETRA Technologies in the 2nd quarter valued at $53,000. Principal Financial Group Inc. grew its stake in TETRA Technologies by 15.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 2,251 shares during the period. Norden Group LLC acquired a new stake in TETRA Technologies in the 1st quarter valued at $83,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in TETRA Technologies in the 1st quarter valued at $84,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment 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.