TETRA Technologies (NYSE:TTI) Trading 5.9% Higher – Still a Buy?

TETRA Technologies, Inc. (NYSE:TTI)’s stock price shot up 5.9% during trading on Thursday . The company traded as high as $4.98 and last traded at $4.99. 1,819,257 shares changed hands during trading, an increase of 40% from the average session volume of 1,299,621 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.50.

TETRA Technologies Stock Performance

The company has a market capitalization of $655.75 million, a price-to-earnings ratio of 248.87 and a beta of 2.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The stock has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $3.44.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $156.43 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. As a group, analysts anticipate that TETRA Technologies, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On TETRA Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Balboa Wealth Partners purchased a new stake in shares of TETRA Technologies during the 3rd quarter worth $33,000. Townsquare Capital LLC purchased a new stake in TETRA Technologies during the third quarter worth about $36,000. Point72 DIFC Ltd grew its position in TETRA Technologies by 82.0% during the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after buying an additional 5,966 shares during the period. US Bancorp DE increased its holdings in TETRA Technologies by 2,038.0% in the third quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 16,875 shares in the last quarter. Finally, FMR LLC lifted its position in shares of TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 8,084 shares during the period. Hedge funds and other institutional investors 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.