TETRA Technologies (TTI) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “TETRA Technologies, Inc. is a geographically diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, compression services and equipment, and selected offshore services including well plugging and abandonment, decommissioning, and diving. TETRA is comprised of three divisions – Fluids, Well Abandonment/Decommissioning and Testing & Services. “

A number of other equities research analysts have also recently commented on the company. Raymond James cut TETRA Technologies from an outperform rating to a market perform rating in a research note on Thursday, December 13th. Credit Suisse Group decreased their price objective on TETRA Technologies from $6.00 to $5.00 and set a buy rating for the company in a research note on Wednesday, November 14th. Finally, Johnson Rice cut TETRA Technologies from a buy rating to a hold rating in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $6.10.

Shares of TETRA Technologies stock traded up $0.14 during trading on Thursday, reaching $2.50. 8,932 shares of the company were exchanged, compared to its average volume of 766,304. The company has a quick ratio of 1.28, a current ratio of 2.00 and a debt-to-equity ratio of 2.61. TETRA Technologies has a twelve month low of $1.29 and a twelve month high of $5.11. The stock has a market cap of $296.48 million, a PE ratio of -50.40 and a beta of 1.59.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Thursday, February 28th. The oil and gas company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. TETRA Technologies had a negative return on equity of 2.20% and a negative net margin of 6.44%.

In other TETRA Technologies news, CEO Stuart M. Brightman bought 100,000 shares of the firm’s stock in a transaction on Friday, December 28th. The stock was purchased at an average cost of $1.41 per share, with a total value of $141,000.00. Following the completion of the purchase, the chief executive officer now owns 1,258,163 shares in the company, valued at $1,774,009.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.69% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of TTI. Prescott Group Capital Management L.L.C. acquired a new position in TETRA Technologies in the fourth quarter valued at about $5,731,000. FMR LLC lifted its holdings in shares of TETRA Technologies by 103.3% in the fourth quarter. FMR LLC now owns 2,554,461 shares of the oil and gas company’s stock valued at $4,291,000 after purchasing an additional 1,298,000 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of TETRA Technologies by 3.0% in the third quarter. BlackRock Inc. now owns 18,478,386 shares of the oil and gas company’s stock valued at $83,336,000 after purchasing an additional 544,740 shares in the last quarter. RK Capital Management LLC lifted its holdings in shares of TETRA Technologies by 58.4% in the third quarter. RK Capital Management LLC now owns 1,290,969 shares of the oil and gas company’s stock valued at $5,822,000 after purchasing an additional 475,800 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of TETRA Technologies by 612.4% in the fourth quarter. Squarepoint Ops LLC now owns 433,189 shares of the oil and gas company’s stock valued at $728,000 after purchasing an additional 372,384 shares in the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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.

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