TETRA Technologies (NYSE:TTI) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of TETRA Technologies (NYSE:TTI) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other brokerages have also weighed in on TTI. Stifel Nicolaus dropped their price objective on shares of TETRA Technologies from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. D. Boral Capital lowered their price target on shares of TETRA Technologies from $5.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, May 1st.

TETRA Technologies Price Performance

Shares of NYSE TTI opened at $2.97 on Friday. TETRA Technologies has a twelve month low of $2.03 and a twelve month high of $5.12. The company has a market cap of $395.23 million, a PE ratio of 148.57 and a beta of 1.31. The business’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $3.57. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The business had revenue of $157.14 million for the quarter, compared to analyst estimates of $160.52 million. On average, analysts predict that TETRA Technologies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On TETRA Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. KLCM Advisors Inc. acquired a new position in shares of TETRA Technologies in the fourth quarter valued at about $36,000. HighTower Advisors LLC acquired a new stake in shares of TETRA Technologies in the fourth quarter valued at approximately $39,000. Aquatic Capital Management LLC bought a new stake in shares of TETRA Technologies in the fourth quarter valued at approximately $40,000. Cibc World Markets Corp acquired a new stake in TETRA Technologies during the fourth quarter worth approximately $42,000. Finally, Byrne Asset Management LLC increased its stake in TETRA Technologies by 67.9% during the 1st quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 6,177 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products 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.