Tetra Technologies (NYSE:TTI) Sets New 12-Month High – Still a Buy?

Tetra Technologies, Inc. (NYSE:TTI) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.64 and last traded at $9.43, with a volume of 101533 shares changing hands. The stock had previously closed at $9.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Tetra Technologies from $6.50 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Northland Securities set a $8.50 price target on Tetra Technologies in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a report on Tuesday, October 14th. CJS Securities assumed coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target for the company. Finally, Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Tetra Technologies has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Tetra Technologies Stock Up 0.4%

The firm’s 50 day moving average is $8.10 and its 200-day moving average is $5.75. 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 firm has a market cap of $1.26 billion, a PE ratio of 10.37 and a beta of 1.12.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The company had revenue of $153.24 million for the quarter, compared to analyst estimates of $144.40 million. As a group, equities research analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Tetra Technologies

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 132,672 shares of the company’s stock, valued at $1,053,415.68. This represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.71% of the company’s stock.

Hedge Funds Weigh In On Tetra Technologies

Several hedge funds have recently added to or reduced their stakes in TTI. Needham Investment Management LLC bought a new position in Tetra Technologies during the 1st quarter worth about $1,562,000. Squarepoint Ops LLC grew its holdings in shares of Tetra Technologies by 114.0% during the 2nd quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock valued at $1,826,000 after purchasing an additional 289,456 shares during the last quarter. Pullen Investment Management LLC increased its holdings in shares of Tetra Technologies by 15.2% during the second quarter. Pullen Investment Management LLC now owns 597,228 shares of the oil and gas company’s stock worth $2,007,000 after buying an additional 78,857 shares in the last quarter. Comerica Bank increased its stake in shares of Tetra Technologies by 134.3% in the first quarter. Comerica Bank now owns 284,304 shares of the oil and gas company’s stock valued at $955,000 after buying an additional 162,978 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Tetra Technologies during the 2nd quarter worth approximately $179,000. Institutional investors 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.