Brokerages Set Tetra Technologies, Inc. (NYSE:TTI) PT at $11.50

Tetra Technologies, Inc. (NYSE:TTI) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $11.50.

TTI has been the subject of a number of research reports. Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Northland Securities set a $10.00 target price on Tetra Technologies in a report on Tuesday, September 1st.

Tetra Technologies Price Performance

Tetra Technologies stock opened at $6.09 on Friday. The company’s 50 day simple moving average is $7.71 and its 200-day simple moving average is $8.83. The company has a market capitalization of $902.49 million, a price-to-earnings ratio of 152.41 and a beta of 1.23. Tetra Technologies has a 1 year low of $5.20 and a 1 year high of $12.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $185.66 million during the quarter, compared to analysts’ expectations of $176.16 million. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. During the same quarter last year, the company posted $0.08 EPS. As a group, equities research analysts expect that Tetra Technologies will post 0.26 earnings per share for the current year.

Insider Activity

In related news, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value of $536,000.00. Following the completion of the transaction, the chief executive officer owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Angela D. John bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were acquired at an average cost of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the purchase, the director owned 97,434 shares in the company, valued at $633,321. This trade represents a 11.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Tetra Technologies in the 2nd quarter valued at approximately $138,491,000. Ranger Investment Management L.P. purchased a new position in Tetra Technologies in the second quarter valued at $5,190,000. SIR Capital Management L.P. acquired a new stake in Tetra Technologies in the second quarter valued at $1,810,000. Edgestream Partners L.P. acquired a new stake in Tetra Technologies in the first quarter valued at $2,874,000. Finally, Bank of America Corp DE lifted its holdings in Tetra Technologies by 82.7% during the 1st quarter. Bank of America Corp DE now owns 1,131,254 shares of the oil and gas company’s stock worth $9,638,000 after buying an additional 511,979 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Company Profile

TETRA Technologies, Inc (NYSE: TTI) is an energy services and industrial products company that provides specialized fluids, water-management services and related solutions to the oil and gas industry. The company serves customers involved in drilling, completion, production and well-maintenance activities.

Its Completion Fluids and Products business supplies clear brine fluids and associated products, including calcium bromide, zinc bromide and calcium chloride-based fluids used in well-completion and workover operations.