TETRA Technologies (NYSE:TTI) Upgraded to Hold by StockNews.com

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

TETRA Technologies Price Performance

TTI opened at $3.38 on Wednesday. TETRA Technologies has a 12 month low of $2.68 and a 12 month high of $6.52. The business has a 50-day moving average of $3.12 and a two-hundred day moving average of $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. The stock has a market capitalization of $444.30 million, a price-to-earnings ratio of 42.26 and a beta of 2.04.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Point72 DIFC Ltd boosted its holdings in TETRA Technologies by 82.0% in the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 5,966 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of TETRA Technologies in the 2nd quarter worth about $53,000. Principal Financial Group Inc. lifted its stake in shares of TETRA Technologies by 15.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 2,251 shares in the last quarter. Norden Group LLC purchased a new stake in shares of TETRA Technologies during the 1st quarter worth about $83,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in TETRA Technologies during the 1st quarter worth approximately $84,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

About TETRA Technologies

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.