Tetra Technologies (NYSE:TTI) Trading Up 5.9% – Time to Buy?

Tetra Technologies, Inc. (NYSE:TTI)’s stock price was up 5.9% during mid-day trading on Thursday . The company traded as high as $8.22 and last traded at $8.13. Approximately 441,592 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,929,134 shares. The stock had previously closed at $7.68.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TTI shares. CJS Securities began coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective for the company. Stifel Nicolaus raised their target price on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Finally, Northland Securities increased their price target on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Stock Performance

The firm has a market capitalization of $1.09 billion, a PE ratio of 404.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02. The company’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $8.34.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tetra Technologies had a net margin of 0.48% and a return on equity of 12.56%. The company had revenue of $146.68 million during the quarter, compared to analysts’ expectations of $140.98 million. As a group, equities analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Institutional Trading of Tetra Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in TTI. Pullen Investment Management LLC raised its position 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 buying an additional 97,937 shares during the period. Squarepoint Ops LLC grew its position in Tetra Technologies by 114.0% during the second quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock valued at $1,826,000 after acquiring an additional 289,456 shares during the period. American Century Companies Inc. increased its stake in Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after acquiring an additional 414,076 shares during the last quarter. Acuitas Investments LLC purchased a new position in shares of Tetra Technologies in the 3rd quarter worth about $4,233,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Tetra Technologies in the 3rd quarter worth about $567,000. 70.19% of the stock is currently 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.