TETRA Technologies (NYSE:TTI) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services including well plugging and abandonment, decommissioning, and diving. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “

Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of TETRA Technologies from a sell rating to a hold rating in a research report on Thursday, August 1st. Stifel Nicolaus set a $4.00 target price on shares of TETRA Technologies and gave the company a buy rating in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $4.90.

Shares of TTI traded up $0.11 during mid-day trading on Friday, hitting $1.71. 602,030 shares of the company traded hands, compared to its average volume of 596,085. The business has a 50-day moving average price of $1.59. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.16 and a current ratio of 1.87. The company has a market cap of $200.98 million, a PE ratio of -34.20 and a beta of 1.80. TETRA Technologies has a 1 year low of $1.25 and a 1 year high of $5.11.

TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, August 8th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $288.80 million during the quarter, compared to analyst estimates of $284.15 million. TETRA Technologies had a negative net margin of 1.92% and a negative return on equity of 3.42%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. Equities analysts expect that TETRA Technologies will post -0.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new position in shares of TETRA Technologies in the first quarter worth approximately $148,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of TETRA Technologies by 70.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 21,930 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 9,049 shares during the period. Amalgamated Bank bought a new position in shares of TETRA Technologies in the fourth quarter worth approximately $32,000. Deutsche Bank AG boosted its position in shares of TETRA Technologies by 124.5% in the fourth quarter. Deutsche Bank AG now owns 622,700 shares of the oil and gas company’s stock worth $1,044,000 after purchasing an additional 345,290 shares during the period. Finally, FMR LLC boosted its position in shares of TETRA Technologies by 103.3% in the fourth quarter. FMR LLC now owns 2,554,461 shares of the oil and gas company’s stock worth $4,291,000 after purchasing an additional 1,298,000 shares during the period. Institutional investors and hedge funds own 81.41% 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 Completion Fluids segment 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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Analyst Recommendations for TETRA Technologies (NYSE:TTI)

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