TETRA Technologies (NYSE:TTI) Given “Buy” Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of TETRA Technologies (NYSE:TTI) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $8.00 price target on the oil and gas company’s stock.

Separately, Northland Securities initiated coverage on shares of TETRA Technologies in a research report on Tuesday, February 20th. They issued an outperform rating and a $6.00 price objective for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, TETRA Technologies currently has a consensus rating of Moderate Buy and an average target price of $7.00.

TETRA Technologies Stock Performance

TETRA Technologies stock opened at $3.89 on Tuesday. The firm has a market capitalization of $510.13 million, a PE ratio of 24.31 and a beta of 2.21. TETRA Technologies has a one year low of $2.56 and a one year high of $6.77. The stock’s 50 day moving average price is $4.34 and its 200 day moving average price is $4.41. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.64 and a current ratio of 2.44.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $153.13 million for the quarter, compared to analyst estimates of $144.76 million. TETRA Technologies had a net margin of 3.27% and a return on equity of 25.42%. As a group, sell-side analysts expect that TETRA Technologies will post 0.27 EPS for the current fiscal year.

Institutional Trading of TETRA Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in TETRA Technologies by 15.4% during the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in TETRA Technologies by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,973 shares of the oil and gas company’s stock valued at $293,000 after buying an additional 2,644 shares during the last quarter. Swiss National Bank raised its stake in TETRA Technologies by 1.0% during the third quarter. Swiss National Bank now owns 270,300 shares of the oil and gas company’s stock valued at $1,725,000 after buying an additional 2,700 shares in the last quarter. Spouting Rock Asset Management LLC lifted its holdings in TETRA Technologies by 10.3% during the 4th quarter. Spouting Rock Asset Management LLC now owns 30,943 shares of the oil and gas company’s stock worth $140,000 after buying an additional 2,897 shares during the last quarter. Finally, Byrne Asset Management LLC grew its position in shares of TETRA Technologies by 36.7% in the 4th quarter. Byrne Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 3,600 shares in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

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.