Tetra Technologies (NYSE:TTI) Reaches New 1-Year High – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.94 and last traded at $11.9230, with a volume of 2367061 shares. The stock had previously closed at $11.44.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TTI shares. Stifel Nicolaus lifted their target price on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Wall Street Zen downgraded shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Northland Securities upped their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Finally, Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Price Performance

The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.43 and a beta of 1.11. The company’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $6.64.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $153.24 million during the quarter, compared to analysts’ expectations of $144.40 million. Tetra Technologies had a return on equity of 13.07% and a net margin of 19.75%. Equities research analysts forecast that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the 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 transaction, the vice president owned 132,672 shares in the company, valued at $1,053,415.68. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Tetra Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock valued at $48,628,000 after buying an additional 174,028 shares in the last quarter. Rubric Capital Management LP bought a new stake in Tetra Technologies during the 3rd quarter worth approximately $26,046,000. Dimensional Fund Advisors LP raised its stake in Tetra Technologies by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after acquiring an additional 72,338 shares during the period. American Century Companies Inc. lifted its holdings in Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after purchasing an additional 414,076 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Tetra Technologies by 3.5% in the second quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company’s stock worth $9,810,000 after purchasing an additional 99,381 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Tetra Technologies Company Profile

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.