Stifel Nicolaus Issues Pessimistic Forecast for Tetra Technologies (NYSE:TTI) Stock Price

Tetra Technologies (NYSE:TTI - Get Free Report) had its price target cut by research analysts at Stifel Nicolaus from $6.50 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 81.00% from the company's current price.

Several other analysts have also recently commented on the company. D. Boral Capital reduced their target price on Tetra Technologies from $5.50 to $4.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut Tetra Technologies from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

Tetra Technologies Trading Down 0.7%

Shares of NYSE:TTI traded down $0.03 during midday trading on Wednesday, hitting $3.32. 587,804 shares of the stock were exchanged, compared to its average volume of 1,414,819. The stock has a market capitalization of $441.13 million, a price-to-earnings ratio of 3.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.61 and a current ratio of 2.54. The business's 50-day moving average price is $3.21 and its 200 day moving average price is $3.43. Tetra Technologies has a 12 month low of $2.03 and a 12 month high of $5.12.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Tetra Technologies had a return on equity of 14.49% and a net margin of 18.41%. The business had revenue of $157.14 million for the quarter, compared to analysts' expectations of $160.52 million. Analysts predict that Tetra Technologies will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Tetra Technologies

Several institutional investors have recently added to or reduced their stakes in the business. DKM Wealth Management Inc. acquired a new position in Tetra Technologies in the second quarter valued at approximately $42,000. Kapitalo Investimentos Ltda acquired a new position in Tetra Technologies in the second quarter valued at approximately $179,000. Byrne Asset Management LLC lifted its stake in Tetra Technologies by 40.3% in the second quarter. Byrne Asset Management LLC now owns 21,426 shares of the oil and gas company's stock valued at $72,000 after buying an additional 6,149 shares during the period. Rhumbline Advisers lifted its stake in Tetra Technologies by 4.3% in the first quarter. Rhumbline Advisers now owns 216,479 shares of the oil and gas company's stock valued at $727,000 after buying an additional 8,857 shares during the period. Finally, Jane Street Group LLC lifted its stake in Tetra Technologies by 389.7% in the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company's stock valued at $756,000 after buying an additional 302,793 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

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.