Investment analysts at DA Davidson initiated coverage on shares of Tetra Technologies (NYSE:TTI) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $14.00 price target on the stock. DA Davidson’s price objective would indicate a potential upside of 9.80% from the company’s current price.
The analysts wrote, “Technological advancements in drilling methods have allowed access to significant reserves in North America that were previously unreachable. The shift to oil and liquids-rich developments, increased complexity of wells, and rig efficiency have all led to growth in demand for oilfield services despite a stagnant ‘rig count’ environment in the U.S. These trends have positive implications for a number of TETRA’s service offerings, particularly in Fluids and contract compression. We look for revenue and earnings growth over the next several years from TETRA as the company’s Fluids and Compressco operations should provide revenue growth and margin improvement. Additionally, we look for margin improvement in the company’s offshore business upon completion of a planned asset retirement program, which has negatively impacted this business. We look for modest growth in the company’s production testing operations as this market appears subject to the most competitive pressures and the company works to reduce costs.”
A number of other analysts have also recently weighed in on TTI. Analysts at Wunderlich raised their price target on shares of Tetra Technologies from $15.00 to $16.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Tetra Technologies from $13.00 to $15.00 in a research note to investors on Tuesday, September 3rd. They now have an “equal weight” rating on the stock. Finally, analysts at Howard Weil raised their price target on shares of Tetra Technologies from $12.00 to $14.00 in a research note to investors on Wednesday, August 28th. They now have a “sector outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $14.17.
Tetra Technologies (NYSE:TTI) traded down 0.71% during mid-day trading on Friday, hitting $12.66. 140,036 shares of the company’s stock traded hands. Tetra Technologies has a one year low of $5.78 and a one year high of $13.41. The stock has a 50-day moving average of $12.69 and a 200-day moving average of $11.29. The company has a market cap of $996.6 million and a price-to-earnings ratio of 671.05.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.10. The company had revenue of $254.30 million for the quarter, compared to the consensus estimate of $247.86 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Tetra Technologies will post $0.70 earnings per share for the current fiscal year.
TETRA Technologies, Inc is oil and gas services company, focused on completion fluids and other products, production testing, wellhead compression, and selected offshore services including well plugging and abandonment, decommissioning, and diving.
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