TETRA Technologies (NYSE:TTI) Stock Price Up 5.9% – Still a Buy?

TETRA Technologies, Inc. (NYSE:TTI) rose 5.9% during mid-day trading on Tuesday . The stock traded as high as $3.97 and last traded at $3.95. Approximately 373,130 shares were traded during trading, a decline of 71% from the average daily volume of 1,292,630 shares. The stock had previously closed at $3.73.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

TETRA Technologies Price Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The stock has a market capitalization of $511.42 million, a price-to-earnings ratio of 198.60 and a beta of 2.10. The business’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.38.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The business had revenue of $141.70 million during the quarter, compared to the consensus estimate of $156.43 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. TETRA Technologies’s revenue was down 6.5% compared to the same quarter last year. On average, research analysts forecast that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of TETRA Technologies by 153.8% during the 2nd quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock worth $3,057,000 after buying an additional 535,413 shares in the last quarter. Stanley Laman Group Ltd. increased its position in shares of TETRA Technologies by 57.9% during 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 acquiring an additional 514,054 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in TETRA Technologies during the second quarter worth $4,368,000. Pullen Investment Management LLC purchased a new position in TETRA Technologies in the third quarter worth $766,000. Finally, Walleye Capital LLC purchased a new position in TETRA Technologies in the third quarter worth $418,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

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.