Tetra Technologies (NYSE:TTI) Reaches New 1-Year High – Still a Buy?

Shares of Tetra Technologies, Inc. (NYSE:TTI) reached a new 52-week high on Tuesday . The stock traded as high as $12.37 and last traded at $11.97, with a volume of 183456 shares traded. The stock had previously closed at $11.86.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTI. Stifel Nicolaus lifted their target price on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Clear Str cut Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Northland Securities boosted their price objective on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Finally, Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Up 1.7%

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.35 and a quick ratio of 1.56. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 13.34 and a beta of 1.24. The firm has a 50 day simple moving average of $9.73 and a two-hundred day simple moving average of $7.04.

Insider Buying and Selling at Tetra Technologies

In related news, VP Shoemake Alicia R. Boston sold 19,257 shares of Tetra Technologies stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $7.94, for a total transaction of $152,900.58. Following the transaction, the vice president owned 132,672 shares of the company’s stock, valued at $1,053,415.68. This trade represents a 12.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TTI. State of Alaska Department of Revenue acquired a new stake in Tetra Technologies during the 3rd quarter worth $28,000. Stone House Investment Management LLC acquired a new stake in shares of Tetra Technologies during the fourth quarter worth about $39,000. Osaic Holdings Inc. lifted its holdings in shares of Tetra Technologies by 647.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 11,000 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of Tetra Technologies in the 2nd quarter valued at approximately $44,000. Finally, American Trust acquired a new position in shares of Tetra Technologies in the 2nd quarter valued at approximately $49,000. 70.19% of the stock is owned by institutional investors.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.