TETRA Technologies (NYSE:TTI) Upgraded to Hold by 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.

TETRA Technologies Stock Performance

Shares of TTI stock opened at $3.38 on Wednesday. The firm has a 50-day moving average of $3.12 and a 200-day moving average of $3.56. The company has a market cap of $443.25 million, a P/E ratio of 21.13 and a beta of 2.04. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.41 and a quick ratio of 1.72. TETRA Technologies has a one year low of $2.68 and a one year high of $6.52.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The company had revenue of $171.94 million for the quarter, compared to analysts’ expectations of $180.66 million. Equities research analysts forecast that TETRA Technologies will post 0.18 EPS for the current fiscal year.

Institutional Trading of TETRA Technologies

A number of large investors have recently added to or reduced their stakes in TTI. Point72 DIFC Ltd increased its holdings in TETRA Technologies by 82.0% during the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after buying an additional 5,966 shares during the last quarter. nVerses Capital LLC purchased a new stake in TETRA Technologies during the second quarter worth about $53,000. Principal Financial Group Inc. boosted its position in TETRA Technologies by 15.4% during the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,251 shares during the period. Norden Group LLC bought a new position in TETRA Technologies during the first quarter worth about $83,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in TETRA Technologies during the first quarter worth about $84,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Company Profile

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.