TETRA Technologies (NYSE:TTI) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of TETRA Technologies (NYSE:TTI - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities analysts have also recently issued research reports about the stock. D. Boral Capital reduced their price objective on shares of TETRA Technologies from $5.50 to $4.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus reduced their price objective on shares of TETRA Technologies from $7.00 to $6.50 and set a "buy" rating for the company in a research note on Tuesday, April 15th.

TETRA Technologies Stock Performance

Shares of TTI traded up $0.08 during trading hours on Friday, hitting $3.05. The company's stock had a trading volume of 1,590,001 shares, compared to its average volume of 1,223,168. The company has a market cap of $405.21 million, a price-to-earnings ratio of 152.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The business has a 50 day simple moving average of $2.91 and a two-hundred day simple moving average of $3.58. 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 issued its quarterly earnings data 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. The company had revenue of $157.14 million during the quarter, compared to analysts' expectations of $160.52 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. On average, equities analysts expect that TETRA Technologies will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KLCM Advisors Inc. bought a new stake in shares of TETRA Technologies in the 4th quarter worth approximately $36,000. HighTower Advisors LLC purchased a new stake in shares of TETRA Technologies in the 4th quarter worth about $39,000. Aquatic Capital Management LLC purchased a new stake in shares of TETRA Technologies in the 4th quarter worth about $40,000. Cibc World Markets Corp purchased a new stake in TETRA Technologies during the 4th quarter valued at about $42,000. Finally, Byrne Asset Management LLC grew its position in TETRA Technologies by 67.9% during the 1st quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 6,177 shares during the last quarter. Hedge funds and other institutional investors 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.