TETRA Technologies’ (TTI) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of TETRA Technologies (NYSE:TTI) in a report released on Wednesday morning,Benzinga reports. They currently have a $5.50 price objective on the oil and gas company’s stock.

Several other brokerages have also recently commented on TTI. StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TETRA Technologies has a consensus rating of “Buy” and an average target price of $6.50.

TETRA Technologies Stock Performance

NYSE:TTI opened at $3.90 on Wednesday. The stock has a 50-day moving average price of $3.73 and a 200 day moving average price of $3.42. The stock has a market capitalization of $514.06 million, a P/E ratio of 195.10 and a beta of 2.06. TETRA Technologies has a 12-month low of $2.68 and a 12-month high of $5.08. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $156.43 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was down 6.5% on a year-over-year basis. Equities research analysts forecast that TETRA Technologies will post 0.15 EPS for the current fiscal year.

Institutional Trading of TETRA Technologies

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in TETRA Technologies by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 49,085 shares of the oil and gas company’s stock worth $170,000 after buying an additional 3,792 shares during the period. HITE Hedge Asset Management LLC boosted its stake in shares of TETRA Technologies by 0.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,266,869 shares of the oil and gas company’s stock worth $3,927,000 after purchasing an additional 4,393 shares during the period. Point72 DIFC Ltd boosted its stake in shares of 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 worth $46,000 after purchasing an additional 5,966 shares during the period. FMR LLC grew its holdings in TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Foundry Partners LLC raised its position in TETRA Technologies by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 989,665 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 9,400 shares during the period. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

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.