Tetra Technologies, Inc. (NYSE:TTI) had its price objective boosted by Morgan Stanley from $3.00 to $4.00 in a research note released on Wednesday morning. The brokerage currently has an equal weight rating on the oil and gas company’s stock.
A number of other brokerages also recently commented on TTI. ValuEngine upgraded Tetra Technologies from a strong sell rating to a sell rating in a research note on Tuesday. Royal Bank Of Canada restated a hold rating on shares of Tetra Technologies in a research note on Sunday. Credit Suisse Group upped their price objective on Tetra Technologies from $3.50 to $4.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Loop Capital upped their price objective on Tetra Technologies from $5.00 to $6.00 and gave the stock a buy rating in a research note on Friday, November 10th. Finally, Wells Fargo & Company upped their price objective on Tetra Technologies from $3.50 to $5.00 and gave the stock an outperform rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $5.00.
Tetra Technologies (TTI) traded up $0.04 during mid-day trading on Wednesday, hitting $3.54. The company had a trading volume of 1,469,700 shares, compared to its average volume of 1,290,261. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.63. Tetra Technologies has a twelve month low of $1.85 and a twelve month high of $5.98.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $216.36 million for the quarter, compared to analyst estimates of $218.65 million. Tetra Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The business’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. sell-side analysts expect that Tetra Technologies will post -0.16 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. Hartford Investment Management Co. bought a new position in shares of Tetra Technologies in the second quarter worth $118,000. JPMorgan Chase & Co. grew its stake in shares of Tetra Technologies by 3,012.3% in the second quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 44,703 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Tetra Technologies by 326.0% in the second quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 36,687 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Tetra Technologies by 73.7% in the second quarter. GSA Capital Partners LLP now owns 57,037 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 24,198 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Tetra Technologies by 68.0% in the third quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 23,839 shares in the last quarter. 91.18% of the stock is owned by institutional investors.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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