Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Tetra Technologies from a buy rating to a hold rating in a research note on Wednesday, August 17th. Simmons restated an overweight rating and issued a $7.60 price target (up previously from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 price target on Tetra Technologies and gave the stock a buy rating in a research note on Tuesday, August 9th. Credit Suisse Group AG set a $8.00 price target on Tetra Technologies and gave the stock a buy rating in a research note on Tuesday, August 9th. Finally, Wunderlich boosted their price target on Tetra Technologies from $9.00 to $10.00 and gave the stock a buy rating in a research note on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $8.26.
Shares of Tetra Technologies (NYSE:TTI) traded up 3.72% on Wednesday, reaching $6.13. The company’s stock had a trading volume of 418,821 shares. The company’s market capitalization is $568.28 million. The company’s 50-day moving average is $6.07 and its 200 day moving average is $6.15. Tetra Technologies has a 12-month low of $4.62 and a 12-month 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 for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The firm earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue was down 44.5% on a year-over-year basis. Equities 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 company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total value of $155,052.17. Following the completion of the sale, the vice president now owns 111,161 shares in the company, valued at $708,095.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.45% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its stake 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 worth $30,484,000 after buying an additional 4,440,514 shares during the last quarter. Boston Partners raised its position in Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock worth $18,075,000 after buying an additional 1,222,597 shares during the period. Vanguard Group Inc. raised its position in Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock worth $53,476,000 after buying an additional 1,205,275 shares during the period. FMR LLC raised its position in Tetra Technologies by 56.9% in the second quarter. FMR LLC now owns 2,701,785 shares of the company’s stock worth $17,210,000 after buying an additional 980,000 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new position in Tetra Technologies during the second quarter worth $4,731,000. Institutional investors and hedge funds own 89.92% of the company’s stock.
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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