TETRA Technologies (NYSE:TTI) Cut to “Hold” at StockNews.com

StockNews.com cut shares of TETRA Technologies (NYSE:TTI) from a buy rating to a hold rating in a research report released on Friday.

Several other equities analysts have also issued reports on TTI. Stifel Nicolaus cut their price objective on shares of TETRA Technologies from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, April 15th. D. Boral Capital dropped their target price on TETRA Technologies from $5.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st.

TETRA Technologies Price Performance

TTI opened at $2.97 on Friday. TETRA Technologies has a 12-month low of $2.03 and a 12-month high of $5.12. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The business’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.58. The company has a market capitalization of $395.23 million, a price-to-earnings ratio of 148.57 and a beta of 1.31.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $157.14 million during the quarter, compared to analyst estimates of $160.52 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. On average, equities research analysts anticipate that TETRA Technologies will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of TETRA Technologies

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TETRA Technologies by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,839 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 3,124 shares in the last quarter. Diversified Trust Co increased its stake in TETRA Technologies by 10.3% during the 1st quarter. Diversified Trust Co now owns 43,565 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 4,058 shares in the last quarter. Byrne Asset Management LLC raised its holdings in shares of TETRA Technologies by 67.9% in the first quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company’s stock worth $51,000 after buying an additional 6,177 shares during the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of TETRA Technologies by 23.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 35,674 shares of the oil and gas company’s stock worth $128,000 after buying an additional 6,684 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of TETRA Technologies by 6.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 142,394 shares of the oil and gas company’s stock worth $510,000 after buying an additional 8,323 shares during the period. 70.19% of the stock is currently owned by 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.