TETRA Technologies (NYSE:TTI) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of TETRA Technologies (NYSE:TTI) in a report released on Wednesday, Benzinga reports. Benchmark currently has a $8.00 price target on the oil and gas company’s stock.

Separately, Northland Securities started coverage on TETRA Technologies in a research note on Tuesday, February 20th. They issued an outperform rating and a $6.00 price objective for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $7.00.

TETRA Technologies Trading Down 13.8 %

Shares of TTI stock opened at $3.70 on Wednesday. The stock has a 50 day simple moving average of $4.33 and a 200-day simple moving average of $4.50. TETRA Technologies has a 1-year low of $2.56 and a 1-year high of $6.77. The company has a market cap of $485.22 million, a price-to-earnings ratio of 23.13 and a beta of 2.21. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.24 and a quick ratio of 1.47.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, February 27th. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 3.27% and a return on equity of 25.61%. The business had revenue of $153.13 million during the quarter, compared to analysts’ expectations of $144.76 million. On average, equities research analysts expect that TETRA Technologies will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC acquired a new position in shares of TETRA Technologies during the 3rd quarter valued at about $237,000. Algert Global LLC purchased a new position in TETRA Technologies in the third quarter worth approximately $2,860,000. CenterBook Partners LP increased its stake in TETRA Technologies by 34.5% during the third quarter. CenterBook Partners LP now owns 571,684 shares of the oil and gas company’s stock worth $3,647,000 after acquiring an additional 146,680 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in TETRA Technologies in the fourth quarter valued at $26,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of TETRA Technologies by 174.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,128 shares of the oil and gas company’s stock valued at $5,864,000 after purchasing an additional 583,854 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products 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.