Tetra Technologies, Inc. (NYSE:TTI) was down 6% during mid-day trading on Wednesday . The stock traded as low as $2.61 and last traded at $2.66. Approximately 1,253,519 shares changed hands during trading, an increase of 6% from the average daily volume of 1,188,060 shares. The stock had previously closed at $2.83.
Several equities research analysts have recently issued reports on TTI shares. Scotiabank set a $4.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Tetra Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine cut shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BidaskClub cut shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $3.25 price objective on shares of Tetra Technologies in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $5.34.
The firm’s market cap is $308.29 million. The firm has a 50 day moving average of $2.31 and a 200 day moving average of $2.96.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The firm had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. During the same period in the prior year, the company posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts forecast that Tetra Technologies, Inc. will post ($0.18) EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Tetra Technologies by 2.1% in the 2nd quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock worth $34,199,000 after acquiring an additional 250,100 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tetra Technologies by 6.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock worth $29,559,000 after acquiring an additional 625,816 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tetra Technologies by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock worth $13,709,000 after acquiring an additional 774,482 shares during the last quarter. Formula Growth Ltd. increased its stake in shares of Tetra Technologies by 51.9% in the 2nd quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock worth $10,495,000 after acquiring an additional 1,284,629 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Tetra Technologies by 20.1% in the 1st quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock worth $14,889,000 after acquiring an additional 613,376 shares during the last quarter. 91.01% of the stock is owned by institutional investors and hedge funds.
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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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