Tetra Technologies (NYSE:TTI) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Tetra Technologies (NYSE:TTI) posted its earnings results on Monday. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01, FiscalAI reports. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $167.95 million for the quarter, compared to analyst estimates of $156.84 million.

Tetra Technologies Trading Down 5.5%

Shares of TTI opened at $5.54 on Tuesday. The firm’s 50 day simple moving average is $6.13 and its 200 day simple moving average is $8.72. The company has a market capitalization of $819.86 million, a P/E ratio of 30.15 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. Tetra Technologies has a 1-year low of $4.87 and a 1-year high of $12.54.

Insider Transactions at Tetra Technologies

In related news, Director Angela John purchased 10,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was acquired at an average price of $6.50 per share, with a total value of $65,000.00. Following the purchase, the director directly owned 97,434 shares in the company, valued at approximately $633,321. This represents a 11.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TTI has been the subject of a number of recent analyst reports. Northland Securities set a $10.00 price target on shares of Tetra Technologies in a research report on Tuesday, September 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tetra Technologies in a research report on Monday. Stifel Nicolaus dropped their price objective on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Clear Str upgraded Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Tetra Technologies has a consensus rating of “Buy” and an average target price of $11.17.

About Tetra Technologies

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA’s Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.