Tetra Technologies (NYSE:TTI) Sets New 52-Week High – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI) hit a new 52-week high on Monday . The company traded as high as $10.18 and last traded at $9.7220, with a volume of 13666 shares traded. The stock had previously closed at $9.79.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stifel Nicolaus boosted their price objective on shares of Tetra Technologies from $6.50 to $9.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. CJS Securities initiated coverage on Tetra Technologies in a research report on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Tuesday, October 14th. Finally, Northland Securities increased their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Tetra Technologies Price Performance

The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $8.23 and a 200 day moving average of $5.91. The stock has a market capitalization of $1.30 billion, a PE ratio of 10.65 and a beta of 1.11.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $153.24 million for the quarter, compared to analyst estimates of $144.40 million. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. Sell-side analysts predict that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Tetra Technologies

In other news, VP Shoemake Alicia R. Boston sold 19,257 shares of Tetra Technologies stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the transaction, the vice president owned 132,672 shares in the company, valued at approximately $1,053,415.68. This trade represents a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Technologies

A number of large investors have recently modified their holdings of TTI. Vanguard Group Inc. raised its stake in Tetra Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock valued at $48,628,000 after buying an additional 174,028 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Tetra Technologies in the 3rd quarter valued at $26,046,000. Dimensional Fund Advisors LP grew its holdings in shares of Tetra Technologies by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after buying an additional 72,338 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after purchasing an additional 414,076 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Tetra Technologies by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company’s stock worth $9,810,000 after acquiring an additional 99,381 shares during the period. 70.19% of the stock is owned by hedge funds and other institutional investors.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.