Simmons Trims TETRA Technologies, Inc. (TTI) Target Price to $4.80

TETRA Technologies, Inc. (NYSE:TTI) had its target price cut by Simmons from $5.65 to $4.80 in a research note issued to investors on Tuesday. They currently have an overweight rating on the stock.

TTI has been the subject of several other research reports. Scotiabank raised TETRA Technologies to an outperform rating in a research note on Wednesday, November 16th. Capital One Financial Corp. reaffirmed an overweight rating on shares of TETRA Technologies in a research note on Friday, December 9th. Zacks Investment Research raised TETRA Technologies from a sell rating to a hold rating in a research note on Tuesday, December 13th. Howard Weil raised TETRA Technologies from a sector perform rating to a sector outperform rating and set a $8.00 target price for the company in a research note on Wednesday, November 16th. Finally, Vetr raised TETRA Technologies from a buy rating to a strong-buy rating and set a $5.00 target price for the company in a research note on Monday, January 23rd. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $6.73.

TETRA Technologies (NYSE:TTI) opened at 3.83 on Tuesday. The company has a 50-day moving average of $4.53 and a 200 day moving average of $5.19. TETRA Technologies has a 52 week low of $3.46 and a 52 week high of $7.75. The firm’s market cap is $442.87 million.

TETRA Technologies (NYSE:TTI) last announced its earnings results on Wednesday, March 1st. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. TETRA Technologies had a negative net margin of 35.47% and a negative return on equity of 8.79%. The firm had revenue of $173.22 million for the quarter, compared to the consensus estimate of $170.47 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, equities analysts predict that TETRA Technologies will post ($0.22) earnings per share for the current year.

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In other TETRA Technologies news, insider Elijio V. Serrano acquired 15,000 shares of TETRA Technologies stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $3.79 per share, with a total value of $56,850.00. Following the purchase, the insider now owns 375,263 shares in the company, valued at $1,422,246.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter J. Pintar sold 50,000 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the sale, the insider now directly owns 212,262 shares of the company’s stock, valued at $1,061,310. The disclosure for this sale can be found here. 4.45% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in TETRA Technologies by 13.5% in the third quarter. BlackRock Fund Advisors now owns 6,864,662 shares of the company’s stock worth $41,943,000 after buying an additional 818,153 shares during the period. Bank of New York Mellon Corp increased its stake in TETRA Technologies by 9.6% in the third quarter. Bank of New York Mellon Corp now owns 1,362,874 shares of the company’s stock worth $8,327,000 after buying an additional 119,576 shares during the period. Federated Investors Inc. PA purchased a new stake in TETRA Technologies during the fourth quarter worth $5,454,000. Wells Fargo & Company MN increased its stake in TETRA Technologies by 37.3% in the third quarter. Wells Fargo & Company MN now owns 1,222,403 shares of the company’s stock worth $7,469,000 after buying an additional 331,939 shares during the period. Finally, Creative Planning purchased a new stake in TETRA Technologies during the third quarter worth $122,000. 69.47% of the stock is owned by hedge funds and other institutional investors.

About TETRA Technologies

TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.

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