Tetra Technologies (NYSE:TTI) Cut to Hold at Clear Str

Clear Str downgraded shares of Tetra Technologies (NYSE:TTI) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Several other research firms also recently commented on TTI. CJS Securities initiated coverage on Tetra Technologies in a report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective for the company. Wall Street Zen cut Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Stifel Nicolaus increased their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. Northland Securities upped their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

Tetra Technologies Stock Performance

Shares of NYSE TTI opened at $11.93 on Tuesday. Tetra Technologies has a 1-year low of $2.03 and a 1-year high of $11.96. The company has a current ratio of 2.35, a quick ratio of 1.56 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $9.16 and its 200 day moving average is $6.59. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 13.11 and a beta of 1.11.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 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 during the quarter, compared to analyst estimates of $144.40 million. On average, sell-side analysts anticipate that Tetra Technologies will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $7.94, for a total transaction of $152,900.58. Following the completion of the transaction, the vice president directly owned 132,672 shares in the company, valued at approximately $1,053,415.68. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Pullen Investment Management LLC raised its holdings in shares of Tetra Technologies by 16.4% in the 3rd quarter. Pullen Investment Management LLC now owns 695,165 shares of the oil and gas company’s stock worth $3,997,000 after purchasing an additional 97,937 shares during the period. Squarepoint Ops LLC increased its stake in 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 worth $1,826,000 after buying an additional 289,456 shares during the period. American Century Companies Inc. lifted its stake in shares of Tetra Technologies by 15.5% in the second quarter. American Century Companies Inc. now owns 3,001,941 shares of the oil and gas company’s stock worth $10,087,000 after acquiring an additional 402,495 shares in the last quarter. Everett Harris & Co. CA raised its position in shares of Tetra Technologies by 40.1% in the 2nd quarter. Everett Harris & Co. CA now owns 921,265 shares of the oil and gas company’s stock valued at $3,095,000 after purchasing an additional 263,880 shares in the last quarter. Finally, CSM Advisors LLC acquired a new stake in Tetra Technologies in the second quarter valued at $3,228,000. 70.19% of the stock is owned by institutional investors and hedge funds.

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.