Tetra Technologies (NYSE:TTI) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Tetra Technologies (NYSE:TTI - Get Free Report) issued its earnings results on Wednesday. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03, FiscalAI reports. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $9.43 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The company has a market capitalization of $1.28 billion, a P/E ratio of 188.54 and a beta of 1.21. The company's 50 day moving average price is $8.83 and its two-hundred day moving average price is $9.10. Tetra Technologies has a 52 week low of $2.63 and a 52 week high of $12.54.

Institutional Trading of Tetra Technologies

Hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV acquired a new stake in Tetra Technologies during the 3rd quarter worth approximately $135,000. CANADA LIFE ASSURANCE Co acquired a new stake in Tetra Technologies during the 4th quarter worth approximately $121,000. nVerses Capital LLC acquired a new stake in Tetra Technologies during the 4th quarter worth approximately $99,000. CIBC Asset Management Inc acquired a new stake in Tetra Technologies during the 4th quarter worth approximately $97,000. Finally, Xponance LLC acquired a new stake in Tetra Technologies during the 4th quarter worth approximately $94,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTI. Stifel Nicolaus lifted their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Weiss Ratings reissued a "hold (c+)" rating on shares of Tetra Technologies in a research note on Friday, January 9th. Finally, Clear Str lowered shares of Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.25.

About Tetra Technologies

Tetra Technologies, Inc NYSE: TTI is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra's integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.