TETRA Technologies (NYSE:TTI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of TETRA Technologies (NYSE:TTI) from a sell rating to a hold rating in a research note released on Wednesday.

Separately, EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st.

TETRA Technologies Trading Down 2.1 %

Shares of TTI stock opened at $3.28 on Wednesday. The stock’s fifty day moving average is $3.13 and its two-hundred day moving average is $3.45. The firm has a market capitalization of $432.34 million, a P/E ratio of 164.08 and a beta of 2.04. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.72 and a current ratio of 2.33. TETRA Technologies has a fifty-two week low of $2.68 and a fifty-two week high of $5.08.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $156.43 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. Research analysts expect that TETRA Technologies will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of TETRA Technologies by 168.1% during the 1st quarter. BNP Paribas Financial Markets now owns 250,888 shares of the oil and gas company’s stock worth $1,111,000 after acquiring an additional 157,295 shares in the last quarter. American Century Companies Inc. increased its stake in TETRA Technologies by 153.8% in the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock valued at $3,057,000 after purchasing an additional 535,413 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in TETRA Technologies by 57.9% in the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock valued at $4,346,000 after purchasing an additional 514,054 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in TETRA Technologies during the second quarter worth approximately $4,368,000. Finally, Pullen Investment Management LLC purchased a new stake in shares of TETRA Technologies during the 3rd quarter worth approximately $766,000. 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.