Tetra Technologies (NYSE:TTI) Trading Up 9.2% – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI) rose 9.2% during trading on Wednesday . The company traded as high as $11.21 and last traded at $11.4150. Approximately 1,034,274 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,840,430 shares. The stock had previously closed at $10.45.

Analysts Set New Price Targets

TTI has been the topic of a number of recent research reports. Northland Securities lifted their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 31st. CJS Securities initiated coverage on shares of Tetra Technologies in a report on Thursday, December 11th. They set an “outperform” rating and a $11.50 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Stifel Nicolaus increased their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Tetra Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Stock Down 0.3%

The firm has a fifty day moving average price of $8.86 and a 200 day moving average price of $6.36. 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 market cap of $1.55 billion, a P/E ratio of 12.73 and a beta of 1.11.

Tetra Technologies (NYSE:TTI) last released its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $153.24 million during the quarter, compared to the consensus estimate of $144.40 million. Tetra Technologies had a return on equity of 13.07% and a net margin of 19.75%. Equities research analysts forecast that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $7.94, for a total value of $152,900.58. Following the transaction, the vice president directly owned 132,672 shares of the company’s stock, valued at approximately $1,053,415.68. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Tetra Technologies during the third quarter worth $28,000. Vestmark Advisory Solutions Inc. bought a new position in Tetra Technologies during the third quarter worth about $58,000. DKM Wealth Management Inc. acquired a new position in shares of Tetra Technologies during the 2nd quarter worth about $42,000. Osaic Holdings Inc. increased its stake in shares of Tetra Technologies by 647.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of Tetra Technologies in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Company Profile

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.