Several other equities research analysts have also issued reports on the stock. B. Riley set a $8.00 price target on shares of TETRA Technologies and gave the stock a buy rating in a research note on Sunday, October 7th. Wells Fargo & Co raised their price target on shares of TETRA Technologies from $5.50 to $6.00 and gave the stock an outperform rating in a research note on Friday, August 10th. Piper Jaffray Companies set a $5.00 price target on shares of TETRA Technologies and gave the stock a buy rating in a research note on Wednesday, October 3rd. Stifel Nicolaus initiated coverage on shares of TETRA Technologies in a research note on Monday, September 10th. They set a buy rating and a $6.50 price target for the company. Finally, Zacks Investment Research lowered shares of TETRA Technologies from a buy rating to a hold rating in a research note on Wednesday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. TETRA Technologies presently has a consensus rating of Hold and an average price target of $5.92.
Shares of TTI stock opened at $2.57 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.45 and a debt-to-equity ratio of 2.69. TETRA Technologies has a 12-month low of $2.44 and a 12-month high of $5.11.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). TETRA Technologies had a negative return on equity of 3.15% and a negative net margin of 10.56%. The company had revenue of $256.90 million for the quarter, compared to analysts’ expectations of $261.69 million. During the same quarter in the previous year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that TETRA Technologies will post -0.05 EPS for the current year.
In other TETRA Technologies news, Director Thomas R. Bates, Jr. acquired 10,000 shares of TETRA Technologies stock in a transaction that occurred on Wednesday, September 19th. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $43,800.00. Following the purchase, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James H. Funke sold 35,000 shares of TETRA Technologies stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total transaction of $175,350.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in TTI. Legal & General Group Plc grew its stake in TETRA Technologies by 8.5% in the 1st quarter. Legal & General Group Plc now owns 230,954 shares of the oil and gas company’s stock valued at $860,000 after buying an additional 18,039 shares in the last quarter. Royal Bank of Canada grew its stake in TETRA Technologies by 28.9% in the 1st quarter. Royal Bank of Canada now owns 161,607 shares of the oil and gas company’s stock valued at $606,000 after buying an additional 36,257 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in TETRA Technologies by 10.7% in the 1st quarter. Principal Financial Group Inc. now owns 978,888 shares of the oil and gas company’s stock valued at $3,671,000 after purchasing an additional 94,894 shares during the period. Bank of Montreal Can bought a new position in TETRA Technologies in the 2nd quarter valued at $1,800,000. Finally, Aperio Group LLC boosted its holdings in TETRA Technologies by 29.3% in the 2nd quarter. Aperio Group LLC now owns 253,905 shares of the oil and gas company’s stock valued at $1,130,000 after purchasing an additional 57,507 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.
TETRA Technologies Company Profile
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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