According to Zacks, “TETRA Technologies, Inc. is an energy services company with an integrated chemicals operation that supplies chemical products to energy markets, as well as other markets. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “
Other equities analysts have also issued reports about the stock. Wunderlich raised their price target on shares of Tetra Technologies from $9.00 to $10.00 and gave the stock a buy rating in a research report on Thursday, June 16th. JPMorgan Chase & Co. set a $8.00 target price on shares of Tetra Technologies and gave the company a buy rating in a report on Tuesday, August 9th. Credit Suisse Group AG reaffirmed an outperform rating and set a $8.00 target price on shares of Tetra Technologies in a report on Monday, July 18th. Simmons reaffirmed 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. Finally, Morgan Stanley initiated coverage on shares of Tetra Technologies in a report on Wednesday, August 10th. They set an overweight rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Tetra Technologies presently has an average rating of Buy and an average target price of $8.26.
Shares of Tetra Technologies (NYSE:TTI) opened at 5.85 on Thursday. The stock’s market cap is $542.32 million. The company’s 50-day moving average is $5.95 and its 200-day moving average is $6.12. Tetra Technologies has a 1-year low of $4.62 and a 1-year high of $9.44.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. The company earned $175.66 million during the quarter, compared to analyst estimates of $188.42 million. During the same period last year, the firm posted $0.16 EPS. Tetra Technologies’s revenue for the quarter was down 44.5% compared to the same quarter last year. Equities analysts expect that Tetra Technologies will post ($0.48) EPS for the current fiscal year.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the sale, the vice president now owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.45% of the company’s stock.
A number of large investors have recently made changes to their positions in TTI. Bank of Montreal Can acquired a new stake in shares of Tetra Technologies during the second quarter valued at about $358,000. Eqis Capital Management Inc. boosted its stake in shares of Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock valued at $108,000 after buying an additional 166 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Tetra Technologies by 127.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,797 shares of the company’s stock valued at $177,000 after buying an additional 15,584 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Tetra Technologies by 251.0% in the first quarter. Panagora Asset Management Inc. now owns 704,421 shares of the company’s stock valued at $4,473,000 after buying an additional 503,730 shares during the period. Finally, Barclays PLC boosted its stake in shares of Tetra Technologies by 539,679.2% in the first quarter. Barclays PLC now owns 259,094 shares of the company’s stock valued at $1,555,000 after buying an additional 259,046 shares during the period. 89.91% of the stock is currently owned by institutional investors.
Tetra Technologies Company Profile
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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