TETRA Technologies (NYSE:TTI) Stock Price Up 5.9% – Here’s What Happened

TETRA Technologies, Inc. (NYSE:TTI)’s stock price shot up 5.9% during mid-day trading on Thursday . The stock traded as high as $4.98 and last traded at $4.99. 1,819,257 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 1,299,621 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. D. Boral Capital reiterated a “buy” rating and issued a $5.50 price objective on shares of TETRA Technologies in a research note on Wednesday, January 8th. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. Finally, StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TETRA Technologies presently has a consensus rating of “Buy” and an average target price of $6.50.

TETRA Technologies Trading Down 1.5 %

The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $646.53 million, a price-to-earnings ratio of 245.37 and a beta of 2.06. The business has a 50-day moving average of $3.84 and a two-hundred day moving average of $3.46.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. TETRA Technologies’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. Research analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of TETRA Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTI. JPMorgan Chase & Co. boosted its stake in TETRA Technologies by 233.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company’s stock valued at $1,583,000 after buying an additional 357,455 shares in the last quarter. Barclays PLC boosted its stake in shares of TETRA Technologies by 369.6% in the 3rd quarter. Barclays PLC now owns 209,873 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 165,184 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of TETRA Technologies by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,728,035 shares of the oil and gas company’s stock worth $8,458,000 after purchasing an additional 17,802 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of TETRA Technologies during the 3rd quarter worth about $405,000. Finally, Stifel Financial Corp lifted its holdings in TETRA Technologies by 703.0% during the 3rd quarter. Stifel Financial Corp now owns 216,439 shares of the oil and gas company’s stock valued at $671,000 after purchasing an additional 189,484 shares during the last quarter. Institutional investors own 70.19% of the company’s stock.

About TETRA Technologies

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.