Tetra Technologies (NYSE:TTI) Posts Earnings Results

Key Points

• Tetra beat expectations — Q1 EPS was $0.06 versus consensus $0.03 and revenue was $156.25M versus $152.24M, though profitability remained thin with a net margin of 0.48%.
• The stock traded at $9.70 (market cap ~$1.31B) and looks richly valued by one metric with a PE of 484.75, while its 52-week range is $2.60–$12.54.
• Analysts have a consensus of “Moderate Buy” with an average target of $10.25 after several firms raised targets (Stifel to $13, Northland to $11.50), and institutional ownership is about 70.2% with recent small stake increases by multiple funds.

Tetra Technologies (NYSE:TTI - Get Free Report) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03, FiscalAI reports. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $152.24 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%.

Tetra Technologies Stock Performance

Shares of NYSE:TTI traded down $0.05 during mid-day trading on Wednesday, reaching $9.70. 1,273,481 shares of the company traded hands, compared to its average volume of 1,863,580. The company's 50 day moving average price is $8.86 and its 200-day moving average price is $9.06. The firm has a market cap of $1.31 billion, a PE ratio of 484.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.28. Tetra Technologies has a 52 week low of $2.60 and a 52 week high of $12.54.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TTI shares. Stifel Nicolaus boosted their price target on Tetra Technologies from $9.00 to $13.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Clear Str downgraded Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tetra Technologies in a research note on Friday, January 9th. Finally, Northland Securities boosted their price objective on Tetra Technologies from $8.50 to $11.50 and gave the company an "outperform" rating in a research note on Wednesday, December 31st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV boosted its stake in Tetra Technologies by 5.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company's stock worth $233,000 after purchasing an additional 1,272 shares during the period. LPL Financial LLC boosted its stake in Tetra Technologies by 9.7% in the 4th quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company's stock worth $184,000 after purchasing an additional 1,739 shares during the period. Sei Investments Co. boosted its stake in Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company's stock worth $421,000 after purchasing an additional 1,754 shares during the period. State of Wyoming boosted its stake in Tetra Technologies by 23.3% in the 4th quarter. State of Wyoming now owns 9,703 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 1,834 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Tetra Technologies by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company's stock worth $1,309,000 after purchasing an additional 3,547 shares during the period. 70.19% of the stock is currently owned by institutional investors.

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.

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