TETRA Technologies (NYSE:TTI) released its earnings results on Thursday. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05), MarketWatch Earnings reports. The firm had revenue of $256.90 million during the quarter, compared to analysts’ expectations of $261.69 million. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. TETRA Technologies updated its FY 2018 guidance to EPS.
TTI stock traded down $0.16 during midday trading on Friday, hitting $3.06. The company’s stock had a trading volume of 653,970 shares, compared to its average volume of 951,735. TETRA Technologies has a 12 month low of $2.81 and a 12 month high of $5.11. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.45 and a quick ratio of 1.66. The company has a market capitalization of $431.08 million, a price-to-earnings ratio of -14.57, a PEG ratio of 2.76 and a beta of 1.28.
Several equities research analysts recently issued reports on TTI shares. B. Riley set a $8.00 target price on shares of TETRA Technologies and gave the stock a “buy” rating in a report on Sunday, October 7th. Piper Jaffray Companies set a $5.00 price target on TETRA Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus began coverage on TETRA Technologies in a research note on Monday, September 10th. They issued a “buy” rating and a $6.50 price target for the company. Zacks Investment Research downgraded TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Credit Suisse Group upped their price target on TETRA Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. TETRA Technologies presently has an average rating of “Hold” and an average target price of $5.61.
In other news, Director Thomas R. Bates, Jr. bought 10,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was purchased at an average cost of $4.38 per share, for a total transaction of $43,800.00. Following the transaction, the director now owns 143,044 shares of the company’s stock, valued at $626,532.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James H. Funke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total value of $175,350.00. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TTI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of TETRA Technologies during the 2nd quarter valued at approximately $118,000. Barclays PLC lifted its position in TETRA Technologies by 47.3% in the first quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock worth $137,000 after buying an additional 11,664 shares during the last quarter. GSA Capital Partners LLP lifted its position in TETRA Technologies by 181.3% in the second quarter. GSA Capital Partners LLP now owns 31,352 shares of the oil and gas company’s stock worth $140,000 after buying an additional 20,205 shares during the last quarter. SG Americas Securities LLC lifted its position in TETRA Technologies by 87.4% in the second quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock worth $156,000 after buying an additional 16,372 shares during the last quarter. Finally, Raymond James & Associates lifted its position in TETRA Technologies by 215.3% in the second quarter. Raymond James & Associates now owns 48,604 shares of the oil and gas company’s stock worth $216,000 after buying an additional 33,191 shares during the last quarter. Hedge funds and other institutional investors own 83.25% of the company’s stock.
TETRA Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.
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