Tetra Technologies, Inc. (NYSE:TTI) issued its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.03, Bloomberg Earnings reports. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The company had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year.
Tetra Technologies (NYSE TTI) traded up 3.19% during trading on Friday, reaching $1.94. 1,013,981 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $2.58 and its 200-day moving average price is $3.46. The stock’s market capitalization is $224.84 million. Tetra Technologies has a 52 week low of $1.85 and a 52 week high of $6.63.
Several analysts have issued reports on the stock. Royal Bank Of Canada set a $5.00 price target on shares of Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Morgan Stanley reduced their price target on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $5.67.
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Hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems acquired a new stake in Tetra Technologies during the second quarter worth about $666,000. Municipal Employees Retirement System of Michigan boosted its stake in Tetra Technologies by 23.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock worth $107,000 after buying an additional 5,030 shares during the period. Mason Street Advisors LLC boosted its stake in Tetra Technologies by 7.8% in the first quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,961 shares during the period. Karp Capital Management Corp acquired a new stake in Tetra Technologies during the first quarter worth about $121,000. Finally, Gotham Asset Management LLC acquired a new stake in Tetra Technologies during the first quarter worth about $128,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.
Tetra Technologies Company Profile
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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