Stifel Nicolaus Raises Tetra Technologies (NYSE:TTI) Price Target to $6.50

Key Points

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Tetra Technologies (NYSE:TTI - Free Report) had its price objective raised by Stifel Nicolaus from $6.00 to $6.50 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company's stock.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Tetra Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. D. Boral Capital increased their price objective on Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday.

Tetra Technologies Stock Down 5.6%

NYSE:TTI traded down $0.23 on Thursday, hitting $3.87. The stock had a trading volume of 2,761,436 shares, compared to its average volume of 1,540,036. The business's fifty day moving average is $3.39 and its 200 day moving average is $3.42. The company has a market cap of $515.79 million, a PE ratio of 4.50 and a beta of 1.37. The company has a quick ratio of 1.61, a current ratio of 2.47 and a debt-to-equity ratio of 0.62. Tetra Technologies has a 52 week low of $2.03 and a 52 week high of $5.12.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $173.87 million for the quarter, compared to analyst estimates of $172.46 million. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%. On average, equities research analysts expect that Tetra Technologies will post 0.15 EPS for the current fiscal year.

Institutional Trading of Tetra Technologies

A number of institutional investors and hedge funds have recently modified their holdings of TTI. Raymond James Financial Inc. purchased a new stake in shares of Tetra Technologies during the fourth quarter valued at approximately $521,000. HighTower Advisors LLC purchased a new stake in shares of Tetra Technologies during the fourth quarter valued at approximately $39,000. American Century Companies Inc. increased its position in shares of Tetra Technologies by 36.3% during the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company's stock valued at $6,210,000 after acquiring an additional 462,213 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tetra Technologies in the fourth quarter worth $98,000. Finally, JPMorgan Chase & Co. grew its position in shares of Tetra Technologies by 58.7% in the fourth quarter. JPMorgan Chase & Co. now owns 810,581 shares of the oil and gas company's stock valued at $2,902,000 after purchasing an additional 299,876 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, 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.