Royal Bank Of Canada Reaffirms “Hold” Rating for Tetra Technologies, Inc. (TTI)
Other equities research analysts have also recently issued research reports about the company. Loop Capital increased their target price on Tetra Technologies from $5.00 to $6.00 and gave the company a buy rating in a report on Friday, November 10th. J P Morgan Chase & Co cut Tetra Technologies from an overweight rating to a neutral rating in a report on Tuesday, September 12th. Wells Fargo & Company increased their target price on Tetra Technologies from $3.50 to $5.00 and gave the company an outperform rating in a report on Friday, November 10th. Zacks Investment Research upgraded Tetra Technologies from a sell rating to a hold rating in a report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $4.00 target price on Tetra Technologies and gave the company a buy rating in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $5.09.
Shares of Tetra Technologies (TTI) opened at $3.50 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.24 and a debt-to-equity ratio of 1.63. Tetra Technologies has a fifty-two week low of $1.85 and a fifty-two week high of $5.98.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $216.36 million for the quarter, compared to analysts’ expectations of $218.65 million. Tetra Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. Tetra Technologies’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. equities research analysts anticipate that Tetra Technologies will post -0.22 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Tetra Technologies by 23.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 5,030 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in shares of Tetra Technologies during the second quarter worth $118,000. Gotham Asset Management LLC acquired a new stake in shares of Tetra Technologies during the first quarter worth $128,000. JPMorgan Chase & Co. boosted its holdings in shares of Tetra Technologies by 3,012.3% during 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 during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Tetra Technologies by 326.0% during 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 during the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.
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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