Stock analysts at Loop Capital started coverage on shares of Tetra Technologies Inc. (NYSE:TTI) in a research report issued on Friday, The Fly reports. The firm set a “buy” rating on the stock.
Several other research analysts have also recently issued reports on TTI. Zacks Investment Research cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Wunderlich dropped their target price on shares of Tetra Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 10th. Credit Suisse Group AG reiterated an “outperform” rating and set a $8.00 target price on shares of Tetra Technologies in a report on Monday, July 18th. Morgan Stanley set a $10.00 target price on shares of Tetra Technologies and gave the stock a “buy” rating in a report on Wednesday. Finally, Simmons reiterated an “overweight” rating and set a $7.60 target price (up from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Tetra Technologies has an average rating of “Buy” and a consensus target price of $8.26.
Tetra Technologies (NYSE:TTI) opened at 5.97 on Friday. Tetra Technologies has a one year low of $4.62 and a one year high of $9.44. The firm has a 50-day moving average of $6.07 and a 200 day moving average of $6.15. The stock’s market capitalization is $553.45 million.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $175.66 million for the quarter, compared to analysts’ expectations of $188.42 million. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. The business’s revenue for the quarter was down 44.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. On average, equities research analysts anticipate that Tetra Technologies will post ($0.48) earnings per share for the current fiscal year.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the sale, the vice president now directly owns 111,161 shares of the company’s stock, valued at $708,095.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.45% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock valued at $53,476,000 after buying an additional 1,205,275 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Tetra Technologies by 11.1% in the second quarter. BlackRock Fund Advisors now owns 6,046,509 shares of the company’s stock valued at $38,516,000 after buying an additional 602,102 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Tetra Technologies by 1,287.1% in the second quarter. Point72 Asset Management L.P. now owns 4,785,514 shares of the company’s stock valued at $30,484,000 after buying an additional 4,440,514 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Tetra Technologies by 20.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,278,360 shares of the company’s stock valued at $27,253,000 after buying an additional 714,921 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Tetra Technologies by 13.8% in the second quarter. Neuberger Berman Group LLC now owns 3,120,752 shares of the company’s stock valued at $19,880,000 after buying an additional 377,646 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
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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