Tetra Technologies (NYSE:TTI) Posts Earnings Results, Beats Estimates By $0.03 EPS

Tetra Technologies (NYSE:TTI) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03, FiscalAI reports. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a return on equity of 10.47% and a net margin of 1.15%.

Tetra Technologies Price Performance

Shares of Tetra Technologies stock traded down $0.10 during trading hours on Friday, reaching $9.43. The stock had a trading volume of 1,773,096 shares, compared to its average volume of 1,877,218. Tetra Technologies has a twelve month low of $2.63 and a twelve month high of $12.54. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $8.83 and its 200 day moving average is $9.06. The firm has a market capitalization of $1.28 billion, a PE ratio of 188.54 and a beta of 1.22.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TTI. Invesco Ltd. raised its holdings in shares of Tetra Technologies by 75.3% during the 4th quarter. Invesco Ltd. now owns 1,115,415 shares of the oil and gas company’s stock worth $10,451,000 after acquiring an additional 479,027 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Tetra Technologies by 5.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 1,272 shares during the period. Empowered Funds LLC grew its stake in shares of Tetra Technologies by 85.3% in the 4th quarter. Empowered Funds LLC now owns 611,974 shares of the oil and gas company’s stock valued at $5,734,000 after buying an additional 281,708 shares during the period. nVerses Capital LLC purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at approximately $99,000. Finally, Wellington Management Group LLP purchased a new position in shares of Tetra Technologies during the 4th quarter worth approximately $15,773,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TTI. Stifel Nicolaus lifted their price target on Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Finally, Clear Str downgraded shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.