TETRA Technologies (NYSE:TTI) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

TETRA Technologies Stock Performance

TTI opened at $3.38 on Wednesday. TETRA Technologies has a 1-year low of $2.68 and a 1-year high of $6.52. The stock has a market cap of $444.30 million, a P/E ratio of 42.26 and a beta of 2.04. The stock’s 50 day simple moving average is $3.12 and its 200 day simple moving average is $3.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.41 and a quick ratio of 1.72.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The firm had revenue of $171.94 million for the quarter, compared to analysts’ expectations of $180.66 million. As a group, equities analysts anticipate that TETRA Technologies will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd increased its stake in shares of TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 5,966 shares in the last quarter. nVerses Capital LLC purchased a new position in TETRA Technologies during the second quarter worth $53,000. Principal Financial Group Inc. raised its holdings in shares of TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after acquiring an additional 2,251 shares during the last quarter. Norden Group LLC purchased a new stake in shares of TETRA Technologies in the first quarter valued at $83,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of TETRA Technologies in the first quarter valued at $84,000. Institutional investors and hedge funds 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.