Tetra Technologies (NYSE:TTI) Announces Earnings Results

Tetra Technologies (NYSE:TTI) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%.

Tetra Technologies Stock Performance

NYSE:TTI traded up $0.03 during trading hours on Wednesday, reaching $11.23. 2,046,762 shares of the stock were exchanged, compared to its average volume of 1,849,777. The stock has a market capitalization of $1.50 billion, a P/E ratio of 12.34 and a beta of 1.24. The firm has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $7.88. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. Tetra Technologies has a 52 week low of $2.03 and a 52 week high of $12.54.

Hedge Funds Weigh In On Tetra Technologies

Several large investors have recently added to or reduced their stakes in TTI. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies in the fourth quarter worth $33,000. Osaic Holdings Inc. boosted its holdings in shares of Tetra Technologies by 647.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 11,000 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Tetra Technologies by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 10,204 shares during the period. Brevan Howard Capital Management LP acquired a new stake in Tetra Technologies during the second quarter worth about $51,000. Finally, Prudential Financial Inc. raised its stake in Tetra Technologies by 74.4% during the second quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 7,590 shares during the period. 70.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. CJS Securities began coverage on Tetra Technologies in a research note on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price target on the stock. Wall Street Zen lowered Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Stifel Nicolaus upped their target price on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Northland Securities increased their target price on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.25.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.