Tetra Technologies, Inc. (NYSE:TTI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tetra Technologies, Inc. (NYSE:TTI) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.8750.

Several research firms recently weighed in on TTI. Weiss Ratings upgraded Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Northland Securities increased their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th.

Tetra Technologies Trading Down 6.4%

TTI opened at $8.49 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $9.97 and its two-hundred day moving average is $9.86. The company has a market capitalization of $1.13 billion, a P/E ratio of 169.93 and a beta of 1.19. Tetra Technologies has a 52 week low of $3.64 and a 52 week high of $12.54.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $151.20 million. Analysts forecast that Tetra Technologies will post 0.27 earnings per share for the current year.

Insider Activity

In other Tetra Technologies news, VP Kurt Hallead acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the purchase, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the transaction, the chief executive officer owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.27% of the company’s stock.

Institutional Trading of Tetra Technologies

A number of hedge funds have recently bought and sold shares of TTI. Mercer Global Advisors Inc. ADV raised its position in shares of Tetra Technologies by 5.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 1,272 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Tetra Technologies by 6.7% during the 4th quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 1,452 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Tetra Technologies by 31.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 1,473 shares in the last quarter. LPL Financial LLC grew its stake in Tetra Technologies by 9.7% in the fourth quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Tetra Technologies by 2.5% in the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 1,754 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

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.