Tetra Technologies (NYSE:TTI) Upgraded to Buy at 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 research note published on Saturday.

TTI has been the topic of several other reports. Stifel Nicolaus boosted their price objective on shares of Tetra Technologies from $6.00 to $6.50 and gave the stock a "buy" rating in a research note on Thursday, July 31st. D. Boral Capital upped their price target on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday, July 31st.

Tetra Technologies Stock Performance

Shares of Tetra Technologies stock traded down $0.12 during trading on Friday, hitting $3.86. 510,940 shares of the stock were exchanged, compared to its average volume of 1,476,295. The stock has a market capitalization of $513.79 million, a price-to-earnings ratio of 4.48 and a beta of 1.33. The company has a fifty day moving average price of $3.55 and a 200-day moving average price of $3.37. Tetra Technologies has a 1-year low of $2.03 and a 1-year high of $5.12. The company has a current ratio of 2.47, a quick ratio of 1.61 and a debt-to-equity ratio of 0.62.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Tetra Technologies by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,259,133 shares of the oil and gas company's stock valued at $11,667,000 after buying an additional 239,052 shares during the last quarter. American Century Companies Inc. grew its stake in Tetra Technologies by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 3,001,941 shares of the oil and gas company's stock valued at $10,087,000 after buying an additional 402,495 shares during the last quarter. Geode Capital Management LLC grew its stake in Tetra Technologies by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company's stock valued at $9,810,000 after buying an additional 99,381 shares during the last quarter. Brightline Capital Management LLC acquired a new position in Tetra Technologies in the 1st quarter valued at about $8,921,000. Finally, WealthTrust Axiom LLC grew its position in shares of Tetra Technologies by 4.0% during the 4th quarter. WealthTrust Axiom LLC now owns 1,697,050 shares of the oil and gas company's stock worth $6,075,000 after purchasing an additional 64,824 shares in the last quarter. 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.