Traders Purchase High Volume of TETRA Technologies Call Options (NYSE:TTI)

TETRA Technologies, Inc. (NYSE:TTI - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors bought 2,780 call options on the company. This represents an increase of approximately 376% compared to the average volume of 584 call options.

Wall Street Analyst Weigh In

A number of research analysts have commented on TTI shares. D. Boral Capital lowered their target price on TETRA Technologies from $5.50 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price target on TETRA Technologies from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut TETRA Technologies from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

TETRA Technologies Stock Down 4.8%

Shares of NYSE:TTI traded down $0.18 on Thursday, reaching $3.59. The company had a trading volume of 2,283,114 shares, compared to its average volume of 1,225,474. TETRA Technologies has a twelve month low of $2.03 and a twelve month high of $5.12. The stock has a 50-day moving average price of $2.74 and a 200 day moving average price of $3.47. The stock has a market capitalization of $477.73 million, a P/E ratio of 179.59 and a beta of 1.36. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company had revenue of $157.14 million during the quarter, compared to analysts' expectations of $160.52 million. On average, equities analysts expect that TETRA Technologies will post 0.15 EPS for the current year.

Hedge Funds Weigh In On TETRA Technologies

Several large investors have recently made changes to their positions in TTI. Brightline Capital Management LLC acquired a new position in shares of TETRA Technologies during the 1st quarter worth about $8,921,000. American Century Companies Inc. lifted its position in shares of TETRA Technologies by 49.9% during the 1st quarter. American Century Companies Inc. now owns 2,599,446 shares of the oil and gas company's stock worth $8,734,000 after purchasing an additional 864,793 shares during the last quarter. Royce & Associates LP acquired a new position in shares of TETRA Technologies during the 1st quarter worth about $2,701,000. Icon Advisers Inc. Co. acquired a new position in shares of TETRA Technologies during the 4th quarter worth about $2,377,000. Finally, Stifel Financial Corp lifted its position in shares of TETRA Technologies by 224.8% during the 4th quarter. Stifel Financial Corp now owns 702,895 shares of the oil and gas company's stock worth $2,516,000 after purchasing an additional 486,456 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company's stock.

About TETRA Technologies

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.