TETRA Technologies, Inc. (NYSE:TTI) has been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.81.
A number of equities research analysts have recently weighed in on TTI shares. B. Riley set a $8.00 target price on shares of TETRA Technologies and gave the company a “buy” rating in a research note on Sunday, October 7th. Piper Jaffray Companies set a $5.00 price objective on shares of TETRA Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus assumed coverage on shares of TETRA Technologies in a research note on Monday, September 10th. They set a “buy” rating and a $6.50 price objective on the stock. Zacks Investment Research lowered shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Credit Suisse Group boosted their price objective on shares of TETRA Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, August 13th.
Shares of TTI traded down $0.16 during trading hours on Monday, reaching $3.06. 653,970 shares of the company traded hands, compared to its average volume of 951,735. The firm has a market capitalization of $431.08 million, a price-to-earnings ratio of -14.57, a PEG ratio of 2.76 and a beta of 1.28. The company has a current ratio of 2.45, a quick ratio of 1.66 and a debt-to-equity ratio of 2.61. TETRA Technologies has a 12 month low of $2.81 and a 12 month high of $5.11.
In other news, Director Thomas R. Bates, Jr. bought 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average price of $4.38 per share, for a total transaction of $43,800.00. Following the completion of the purchase, the director now owns 143,044 shares in the company, valued at approximately $626,532.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James H. Funke sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total transaction of $175,350.00. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TTI. BlackRock Inc. lifted its stake in shares of TETRA Technologies by 14.3% in the second quarter. BlackRock Inc. now owns 17,933,646 shares of the oil and gas company’s stock worth $79,804,000 after buying an additional 2,246,857 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TETRA Technologies by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,880,333 shares of the oil and gas company’s stock worth $25,801,000 after buying an additional 923,514 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of TETRA Technologies by 38.7% in the second quarter. Renaissance Technologies LLC now owns 1,943,200 shares of the oil and gas company’s stock worth $8,647,000 after buying an additional 541,900 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of TETRA Technologies by 11.9% in the second quarter. Wells Fargo & Company MN now owns 4,914,080 shares of the oil and gas company’s stock worth $21,867,000 after buying an additional 522,495 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of TETRA Technologies in the third quarter worth approximately $2,053,000. Hedge funds and other institutional investors own 83.25% of the company’s stock.
TETRA Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.
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