Tetra Technologies (NYSE:TTI) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Tetra Technologies has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen.
• Analysts at Stifel Nicolaus and D. Boral Capital have reduced their price targets for Tetra Technologies, with Stifel's target set at $6.00 and D. Boral's at $4.00.
• The company's stock opened at $3.72, representing a 1.2% decrease, and has experienced a 52-week low of $2.03 and a high of $5.12.

Tetra Technologies (NYSE:TTI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

TTI has been the subject of several other reports. Stifel Nicolaus reduced their target price on Tetra Technologies from $6.50 to $6.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. D. Boral Capital reduced their target price on Tetra Technologies from $5.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 1st.

Tetra Technologies Stock Up 0.4%

NYSE:TTI traded up $0.02 on Friday, hitting $3.78. 377,815 shares of the company's stock traded hands, compared to its average volume of 1,408,575. The company has a current ratio of 2.54, a quick ratio of 1.61 and a debt-to-equity ratio of 0.66. Tetra Technologies has a 1 year low of $2.03 and a 1 year high of $5.12. The firm has a 50-day moving average price of $3.30 and a 200-day moving average price of $3.42. The company has a market cap of $502.34 million, a PE ratio of 4.49 and a beta of 1.37.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. HighTower Advisors LLC acquired a new position in shares of Tetra Technologies during the fourth quarter worth approximately $39,000. Aquatic Capital Management LLC acquired a new position in shares of Tetra Technologies during the fourth quarter worth approximately $40,000. Cibc World Markets Corp bought a new stake in shares of Tetra Technologies during the fourth quarter valued at approximately $42,000. DKM Wealth Management Inc. bought a new stake in shares of Tetra Technologies during the second quarter valued at approximately $42,000. Finally, Byrne Asset Management LLC increased its position in shares of Tetra Technologies by 67.9% during the first 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 period. 70.19% of the stock is currently 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.