Royal Bank Of Canada set a $3.00 price objective on Tetra Technologies, Inc. (NYSE:TTI) in a research note released on Saturday. The firm currently has a hold rating on the oil and gas company’s stock.
A number of other analysts have also commented on TTI. Morgan Stanley dropped their price target on Tetra Technologies from $5.50 to $4.00 and set an equal weight rating for the company in a research note on Wednesday, June 21st. Zacks Investment Research lowered Tetra Technologies from a hold rating to a sell rating in a research report on Thursday, July 13th. BidaskClub lowered Tetra Technologies from a sell rating to a strong sell rating in a research report on Thursday, July 27th. Scotiabank set a $4.00 price objective on Tetra Technologies and gave the company a buy rating in a research report on Tuesday, August 22nd. Finally, ValuEngine lowered Tetra Technologies from a sell rating to a strong sell rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Tetra Technologies presently has a consensus rating of Buy and an average target price of $5.31.
Shares of Tetra Technologies (NYSE TTI) opened at 2.74 on Friday. Tetra Technologies has a 52 week low of $1.85 and a 52 week high of $6.34. The firm’s 50-day moving average is $2.40 and its 200-day moving average is $2.92. The company’s market cap is $317.56 million.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The business had revenue of $208.37 million during the quarter, compared to analysts’ expectations of $204.19 million. During the same period in the previous year, the business earned ($0.15) EPS. The business’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts predict that Tetra Technologies will post ($0.18) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in Tetra Technologies by 2.1% during the second quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock valued at $34,199,000 after buying an additional 250,100 shares during the period. Vanguard Group Inc. lifted its position in Tetra Technologies by 6.3% during the second quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock valued at $29,559,000 after buying an additional 625,816 shares during the period. Dimensional Fund Advisors LP lifted its position in Tetra Technologies by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock valued at $13,709,000 after buying an additional 774,482 shares during the period. Formula Growth Ltd. lifted its position in Tetra Technologies by 51.9% during the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after buying an additional 1,284,629 shares during the period. Finally, State Street Corp lifted its position in Tetra Technologies by 20.1% during the first quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock valued at $14,889,000 after buying an additional 613,376 shares during the period. 91.01% of the stock is owned by institutional investors and hedge funds.
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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