TETRA Technologies (NYSE:TTI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Separately, EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TETRA Technologies presently has an average rating of “Buy” and a consensus price target of $7.00.

TETRA Technologies Stock Up 22.7 %

Shares of NYSE:TTI opened at $3.62 on Wednesday. TETRA Technologies has a 52-week low of $2.68 and a 52-week high of $5.12. The firm has a market capitalization of $475.85 million, a P/E ratio of 45.26 and a beta of 2.04. The stock has a 50 day moving average price of $3.12 and a 200-day moving average price of $3.47. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.72 and a current ratio of 2.41.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. As a group, equities research analysts anticipate that TETRA Technologies will post 0.18 EPS for the current fiscal year.

Institutional Trading of TETRA Technologies

Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd boosted its stake in TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 5,966 shares during the last quarter. nVerses Capital LLC purchased a new stake in TETRA Technologies during the 2nd quarter valued at $53,000. US Bancorp DE boosted its stake in TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 16,875 shares during the last quarter. Principal Financial Group Inc. boosted its stake in TETRA Technologies by 15.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 2,251 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in TETRA Technologies during the 1st quarter valued at $83,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.