TETRA Technologies (NYSE:TTI) Sets New 1-Year High – Here’s Why

TETRA Technologies, Inc. (NYSE:TTI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.12 and last traded at $5.07, with a volume of 385765 shares changing hands. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

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

TETRA Technologies Price Performance

The firm’s fifty day moving average price is $3.79 and its 200 day moving average price is $3.44. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a market cap of $645.21 million, a PE ratio of 244.87 and a beta of 2.06.

TETRA Technologies (NYSE:TTI) last released its 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 net margin of 0.27% and a return on equity of 14.53%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities analysts expect that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On TETRA Technologies

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in TETRA Technologies by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,129,181 shares of the oil and gas company’s stock valued at $10,827,000 after purchasing an additional 96,898 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of TETRA Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,728,035 shares of the oil and gas company’s stock valued at $8,458,000 after acquiring an additional 17,802 shares during the period. Huber Capital Management LLC raised its stake in shares of TETRA Technologies by 5.1% in the second quarter. Huber Capital Management LLC now owns 1,945,586 shares of the oil and gas company’s stock valued at $6,732,000 after acquiring an additional 95,096 shares during the period. Masters Capital Management LLC raised its stake in shares of TETRA Technologies by 70.0% in the second quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company’s stock valued at $5,882,000 after acquiring an additional 700,000 shares during the period. Finally, Stanley Laman Group Ltd. raised its stake in shares of TETRA Technologies by 57.9% in the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock valued at $4,346,000 after acquiring an additional 514,054 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.