Benchmark Reaffirms "Buy" Rating for TETRA Technologies (NYSE:TTI)

TETRA Technologies (NYSE:TTI - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $8.00 price target on the oil and gas company's stock. Benchmark's price objective would indicate a potential upside of 116.22% from the stock's previous close.

Separately, Northland Securities assumed coverage on shares of TETRA Technologies in a research report on Tuesday, February 20th. They issued an "outperform" rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $7.00.

TETRA Technologies Trading Down 13.8 %

Shares of TTI traded down $0.59 during midday trading on Wednesday, hitting $3.70. The stock had a trading volume of 5,610,675 shares, compared to its average volume of 1,425,949. TETRA Technologies has a fifty-two week low of $2.56 and a fifty-two week high of $6.77. The business has a 50-day simple moving average of $4.33 and a two-hundred day simple moving average of $4.50. The firm has a market cap of $485.22 million, a P/E ratio of 18.50 and a beta of 2.20. The company has a current ratio of 2.24, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07.

TETRA Technologies (NYSE:TTI - Get Free Report) last announced its earnings results on Tuesday, February 27th. The oil and gas company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a net margin of 4.12% and a return on equity of 25.28%. The company had revenue of $153.13 million during the quarter, compared to analysts' expectations of $144.76 million. As a group, equities analysts forecast that TETRA Technologies will post 0.23 EPS for the current year.

Institutional Investors Weigh In On TETRA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TTI. Fortitude Family Office LLC acquired a new stake in shares of TETRA Technologies in the fourth quarter worth $26,000. Quantbot Technologies LP acquired a new stake in shares of TETRA Technologies in the third quarter worth $33,000. PFG Investments LLC acquired a new stake in TETRA Technologies during the first quarter worth $44,000. Byrne Asset Management LLC boosted its stake in TETRA Technologies by 63.3% during the third quarter. Byrne Asset Management LLC now owns 9,800 shares of the oil and gas company's stock worth $63,000 after buying an additional 3,800 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in TETRA Technologies by 15.4% during the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company's stock worth $75,000 after buying an additional 2,251 shares in the last quarter. Institutional investors and hedge funds own 70.19% of the company's stock.

TETRA Technologies Company Profile

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.