TETRA Technologies, Inc. (NYSE:TTI) – Stock analysts at Piper Jaffray Companies dropped their Q3 2020 earnings estimates for shares of TETRA Technologies in a research note issued on Tuesday, August 13th. Piper Jaffray Companies analyst J. Watson now expects that the oil and gas company will post earnings of ($0.01) per share for the quarter, down from their prior forecast of $0.01.
Other research analysts have also issued reports about the company. ValuEngine raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus set a $4.00 target price on TETRA Technologies and gave the stock a “buy” rating in a report on Friday, May 10th. Zacks Investment Research raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $2.50 target price on shares of TETRA Technologies in a report on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $4.90.
NYSE:TTI opened at $1.68 on Wednesday. The business’s 50-day moving average price is $1.60 and its 200 day moving average price is $2.03. The firm has a market cap of $219.77 million, a P/E ratio of -33.60 and a beta of 1.80. TETRA Technologies has a 52-week low of $1.25 and a 52-week high of $5.11. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 2.98.
TETRA Technologies (NYSE:TTI) last issued its earnings results on Thursday, August 8th. The oil and gas company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The business had revenue of $288.80 million during the quarter, compared to analysts’ expectations of $284.15 million. TETRA Technologies had a negative net margin of 1.92% and a negative return on equity of 3.42%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share.
Several large investors have recently added to or reduced their stakes in TTI. MetLife Investment Advisors LLC acquired a new stake in TETRA Technologies during the 1st quarter worth about $148,000. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of TETRA Technologies by 70.3% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 21,930 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 9,049 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of TETRA Technologies during the 4th quarter valued at about $32,000. Deutsche Bank AG lifted its holdings in shares of TETRA Technologies by 124.5% during the 4th quarter. Deutsche Bank AG now owns 622,700 shares of the oil and gas company’s stock valued at $1,044,000 after buying an additional 345,290 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of TETRA Technologies by 103.3% during the 4th quarter. FMR LLC now owns 2,554,461 shares of the oil and gas company’s stock valued at $4,291,000 after buying an additional 1,298,000 shares during the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.
About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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.
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