Tetra Technologies (NYSE:TTI) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Tetra Technologies beat quarterly expectations: The company reported EPS of $0.06, $0.01 above estimates, while revenue reached $167.95 million versus the $156.84 million consensus.
• Shares declined despite the earnings beat, falling $0.32 to $5.54. The stock remains well below its 52-week high of $12.54 and has a market capitalization of approximately $819.9 million.
• Analysts remain broadly positive: Tetra has a consensus “Buy” rating and an average price target of $11.17, while a company director recently purchased 10,000 shares at $6.50 each.

Tetra Technologies (NYSE:TTI - Get Free Report) posted its quarterly earnings results on Monday. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01, FiscalAI reports. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. The firm had revenue of $167.95 million during the quarter, compared to analyst estimates of $156.84 million.

Tetra Technologies Stock Performance

NYSE:TTI traded down $0.32 on Monday, hitting $5.54. The stock had a trading volume of 2,912,330 shares, compared to its average volume of 1,906,258. The business's 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $8.75. The stock has a market cap of $819.86 million, a price-to-earnings ratio of 138.46 and a beta of 1.29. Tetra Technologies has a 52-week low of $4.87 and a 52-week high of $12.54. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target 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 objective on Tetra Technologies in a research report on Tuesday, September 1st. Weiss Ratings downgraded Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Finally, Clear Str upgraded Tetra Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $11.17.

Insider Activity

In other Tetra Technologies news, Director Angela John bought 10,000 shares of Tetra Technologies stock in a transaction on Wednesday, September 2nd. The stock was acquired at an average cost of $6.50 per share, with a total value of $65,000.00. Following the completion of the acquisition, the director owned 97,434 shares in the company, valued at approximately $633,321. This represents a 11.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.27% of the company's stock.

Tetra Technologies Company Profile

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA's Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.

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