Tetra Technologies, Inc. (NYSE:TTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
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. “
Other equities research analysts have also issued research reports about the stock. Johnson Rice raised shares of Tetra Technologies from an “accumulate” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Thursday, April 13th. Morgan Stanley dropped their price objective on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. Royal Bank Of Canada set a $5.00 price objective on shares of Tetra Technologies and gave the stock a “hold” rating in a research report on Friday, June 16th. Credit Suisse Group raised shares of Tetra Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $5.50 in a research report on Tuesday, April 11th. Finally, Simmons increased their price objective on shares of Tetra Technologies from $4.80 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $6.08.
Tetra Technologies (NYSE:TTI) traded up 1.40% during trading on Thursday, hitting $2.90. 34,199 shares of the company’s stock traded hands. The stock’s market cap is $336.26 million. The firm’s 50-day moving average price is $3.11 and its 200 day moving average price is $4.01. Tetra Technologies has a 12-month low of $2.49 and a 12-month high of $6.77.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, May 10th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Tetra Technologies had a negative net margin of 10.90% and a negative return on equity of 11.46%. The company had revenue of $168 million during the quarter, compared to analyst estimates of $168.64 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts anticipate that Tetra Technologies will post ($0.17) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Tetra Technologies by 107.2% in the first quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock valued at $48,870,000 after buying an additional 6,213,696 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tetra Technologies by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock valued at $40,573,000 after buying an additional 1,068,050 shares in the last quarter. Boston Partners raised its position in shares of Tetra Technologies by 20.6% in the first quarter. Boston Partners now owns 4,787,164 shares of the oil and gas company’s stock valued at $19,483,000 after buying an additional 818,520 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock valued at $16,230,000 after buying an additional 753,964 shares in the last quarter. Finally, State Street Corp raised its position in shares of Tetra Technologies by 20.1% in the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock valued at $14,889,000 after buying an additional 613,376 shares in the last quarter. 93.61% of the stock is owned by institutional investors.
About Tetra Technologies
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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