Tetra Technologies, Inc. (NYSE:TTI) Stock Has Consensus Target Price of $11.17

Key Points

• Analysts maintain a moderately bullish view: Tetra Technologies has a consensus “Moderate Buy” rating, with three buys and two holds. The average 12-month price target is $11.17, well above the reported share price of $6.16.
• Quarterly results met or exceeded expectations: Tetra reported earnings of $0.08 per share, matching estimates, while revenue of $185.66 million surpassed the $176.16 million consensus forecast.
• Institutional and insider interest remains notable: Director Angela John purchased 10,000 shares, while hedge funds and other institutions own 70.19% of the company.

Shares of Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.17.

Several equities research analysts have recently commented on TTI shares. Stifel Nicolaus dropped their target price on shares of Tetra Technologies from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Northland Securities set a $10.00 price target on shares of Tetra Technologies in a research report on Tuesday, September 1st. Finally, Weiss Ratings lowered shares of Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th.

Tetra Technologies Price Performance

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

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $185.66 million during 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 last year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Tetra Technologies will post 0.26 EPS for the current year.

Insider Buying and Selling at Tetra Technologies

In other news, Director Angela John bought 10,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average price of $6.50 per share, with a total value of $65,000.00. Following the transaction, the director owned 97,434 shares of the company's stock, valued at approximately $633,321. The trade was a 11.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.27% of the company's stock.

Institutional Investors Weigh In On Tetra Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Tetra Technologies during the 2nd quarter valued at $138,491,000. Encompass Capital Advisors LLC increased its stake in shares of Tetra Technologies by 10.7% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,201,953 shares of the oil and gas company's stock worth $27,281,000 after acquiring an additional 310,363 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Tetra Technologies by 1.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,744,530 shares of the oil and gas company's stock valued at $23,383,000 after acquiring an additional 38,155 shares during the period. Needham Investment Management LLC lifted its position in Tetra Technologies by 55.7% during the 4th quarter. Needham Investment Management LLC now owns 2,375,000 shares of the oil and gas company's stock valued at $22,254,000 after acquiring an additional 850,000 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Tetra Technologies by 60.2% during the second quarter. Wellington Management Group LLP now owns 2,343,491 shares of the oil and gas company's stock worth $26,552,000 after acquiring an additional 880,413 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

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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