Tetra Technologies (NYSE:TTI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Tetra Technologies has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased investor confidence.
• Brokerages Stifel Nicolaus and D. Boral Capital have also raised their price targets for Tetra Technologies to $6.50 and $5.00, respectively, both issuing "buy" ratings.
• The company recently reported earnings of $0.09 per share, matching consensus estimates, and exceeding revenue expectations with $173.87 million for the quarter.

Wall Street Zen upgraded shares of Tetra Technologies (NYSE:TTI - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus upped their price target on Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a report on Thursday, July 31st. D. Boral Capital increased their target price on shares of Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Tetra Technologies Stock Performance

Shares of NYSE TTI traded down $0.01 during midday trading on Friday, hitting $3.92. 1,380,214 shares of the company's stock were exchanged, compared to its average volume of 1,477,951. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.47 and a quick ratio of 1.61. The stock's 50 day moving average price is $3.51 and its 200-day moving average price is $3.37. The firm has a market cap of $521.79 million, a P/E ratio of 4.55 and a beta of 1.33. Tetra Technologies has a twelve month low of $2.03 and a twelve month high of $5.12.

Tetra Technologies (NYSE:TTI - Get Free Report) last released its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. The firm had revenue of $173.87 million during the quarter, compared to the consensus estimate of $172.46 million. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%. Equities research analysts anticipate that Tetra Technologies will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TTI. Aquatic Capital Management LLC acquired a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $40,000. DKM Wealth Management Inc. acquired a new stake in shares of Tetra Technologies during the second quarter worth approximately $42,000. Byrne Asset Management LLC increased its holdings 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 worth $51,000 after buying an additional 6,177 shares in the last quarter. CWM LLC increased its holdings in shares of Tetra Technologies by 296.0% during the second quarter. CWM LLC now owns 16,119 shares of the oil and gas company's stock worth $54,000 after buying an additional 12,049 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Tetra Technologies during the second quarter worth approximately $57,000. 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.