Tetra Technologies (NYSE:TTI) Hits New 12-Month High – Time to Buy?

Tetra Technologies, Inc. (NYSE:TTI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.18 and last traded at $9.7220, with a volume of 13666 shares trading hands. The stock had previously closed at $9.79.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. CJS Securities assumed coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective on the stock. Wall Street Zen downgraded Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a research report on Tuesday, October 14th. Stifel Nicolaus upped their price objective on Tetra Technologies from $6.50 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Northland Securities upped their target price on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Tetra Technologies has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Tetra Technologies Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.56 and a current ratio of 2.35. The company’s fifty day moving average price is $8.23 and its two-hundred day moving average price is $5.91. The firm has a market capitalization of $1.30 billion, a PE ratio of 10.65 and a beta of 1.11.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $153.24 million for the quarter, compared to the consensus estimate of $144.40 million. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. As a group, equities analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of Tetra Technologies stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $7.94, for a total transaction of $152,900.58. Following the sale, the vice president directly owned 132,672 shares in the company, valued at $1,053,415.68. The trade was a 12.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tetra Technologies

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its stake in Tetra Technologies by 114.0% during the 2nd quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock valued at $1,826,000 after purchasing an additional 289,456 shares during the period. Pullen Investment Management LLC raised its stake in shares of Tetra Technologies by 15.2% during the second quarter. Pullen Investment Management LLC now owns 597,228 shares of the oil and gas company’s stock valued at $2,007,000 after purchasing an additional 78,857 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Tetra Technologies in the second quarter worth about $179,000. American Century Companies Inc. grew its position in Tetra Technologies by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 3,001,941 shares of the oil and gas company’s stock valued at $10,087,000 after buying an additional 402,495 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Tetra Technologies by 4.3% in the 1st quarter. Rhumbline Advisers now owns 216,479 shares of the oil and gas company’s stock worth $727,000 after acquiring an additional 8,857 shares during the period. Institutional investors own 70.19% of the company’s stock.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.