TETRA Technologies (NYSE:TTI) Upgraded by StockNews.com to Hold Rating

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

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

TETRA Technologies Stock Performance

NYSE TTI opened at $3.28 on Wednesday. The stock has a market capitalization of $432.34 million, a PE ratio of 164.08 and a beta of 2.04. TETRA Technologies has a 1 year low of $2.68 and a 1 year high of $5.08. The company’s 50 day simple moving average is $3.13 and its two-hundred day simple moving average is $3.46. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.72.

TETRA Technologies (NYSE:TTI) last released 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 firm had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. Analysts predict that TETRA Technologies will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TTI. Point72 DIFC Ltd grew its position in TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 5,966 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of TETRA Technologies in the second quarter worth $53,000. US Bancorp DE raised its holdings in TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 16,875 shares during the last quarter. Principal Financial Group Inc. boosted its position in TETRA Technologies by 15.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 2,251 shares during the period. Finally, Norden Group LLC purchased a new stake in TETRA Technologies during the 1st quarter valued at $83,000. Institutional investors own 70.19% of the company’s stock.

TETRA Technologies Company Profile

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.