Tetra Technologies (NYSE:TTI) Stock Rating Raised to "Strong-Buy" at Clear Str

Key Points

• Clear Street upgraded Tetra Technologies from “hold” to “strong-buy,” while analysts overall maintain a consensus “buy” rating with an average price target of $11.17.
• Tetra reported quarterly earnings of $0.08 per share, matching estimates, while revenue of $185.66 million exceeded the $176.16 million consensus forecast.
• Director Angela John purchased 10,000 shares, increasing her position by 11.44%; institutional investors collectively own 70.19% of the company.

Tetra Technologies (NYSE:TTI - Get Free Report) was upgraded by research analysts at Clear Str from a "hold" rating to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

Other research analysts also recently issued reports about the company. Northland Securities set a $10.00 target price on Tetra Technologies in a research note on Tuesday, September 1st. Stifel Nicolaus decreased their price target on Tetra Technologies from $13.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday, September 23rd. Finally, Weiss Ratings lowered shares of Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $11.17.

Tetra Technologies Stock Up 2.1%

Shares of NYSE TTI opened at $6.16 on Tuesday. The stock has a market cap of $911.98 million, a PE ratio of 154.01 and a beta of 1.26. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. Tetra Technologies has a 52-week low of $5.40 and a 52-week high of $12.54. The business has a 50-day moving average price of $7.05 and a 200 day moving average price of $8.64.

Tetra Technologies (NYSE:TTI - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same quarter in the previous year, the company posted $0.08 earnings per share. Equities research analysts forecast that Tetra Technologies will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Tetra Technologies news, Director Angela John acquired 10,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the director owned 97,434 shares of the company's stock, valued at $633,321. The trade was a 11.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of large investors have recently made changes to their positions in the stock. KBC Group NV purchased a new stake in Tetra Technologies during the first quarter worth about $27,000. Allworth Financial LP acquired a new stake in shares of Tetra Technologies during the 2nd quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the 4th quarter valued at approximately $45,000. Royal Bank of Canada boosted its stake in shares of Tetra Technologies by 133.1% during the 1st quarter. Royal Bank of Canada now owns 9,164 shares of the oil and gas company's stock worth $78,000 after acquiring an additional 5,232 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Tetra Technologies in the 2nd quarter worth approximately $81,000. Hedge funds and other institutional investors own 70.19% of the company's stock.

Tetra Technologies Company Profile

Tetra Technologies, Inc NYSE: TTI is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra's Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.

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