Tetra Technologies (NYSE:TTI) Issues Quarterly Earnings Results

Tetra Technologies (NYSE:TTI) announced its quarterly earnings results on Monday. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01, FiscalAI reports. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. The company had revenue of $167.95 million during the quarter, compared to analysts’ expectations of $156.84 million.

Tetra Technologies Stock Performance

TTI traded down $0.32 on Monday, hitting $5.54. 2,912,656 shares of the company’s stock were exchanged, compared to its average volume of 1,906,258. Tetra Technologies has a twelve month low of $4.87 and a twelve month high of $12.54. The firm has a market cap of $819.86 million, a PE ratio of 138.46 and a beta of 1.29. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $6.16 and a two-hundred day moving average of $8.75.

Wall Street Analyst Weigh In

TTI has been the subject of several analyst reports. Clear Str raised shares of Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Stifel Nicolaus cut their target price on shares of Tetra Technologies from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Northland Securities set a $10.00 target price on Tetra Technologies in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Tetra Technologies currently has an average rating of “Buy” and a consensus price target of $11.17.

Insider Buying and Selling

In related news, Director Angela John acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director directly owned 97,434 shares of the company’s stock, valued at approximately $633,321. The trade was a 11.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.27% of the company’s stock.

Tetra Technologies Company Profile

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA’s Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.