TETRA Technologies (NYSE:TTI) Trading 7.4% Higher – Time to Buy?

TETRA Technologies, Inc. (NYSE:TTI)’s stock price traded up 7.4% on Thursday . The company traded as high as $3.81 and last traded at $3.79. 862,446 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,049,842 shares. The stock had previously closed at $3.53.

Analysts Set New Price Targets

Separately, D. Boral Capital restated a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research note on Wednesday.

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 business’s 50-day moving average price is $3.98 and its two-hundred day moving average price is $3.69. The firm has a market cap of $477.28 million, a price-to-earnings ratio of 180.34 and a beta of 2.04.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The company had revenue of $134.50 million during the quarter, compared to the consensus estimate of $138.96 million. On average, research analysts forecast that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pullen Investment Management LLC lifted its stake in TETRA Technologies by 105.5% during the fourth quarter. Pullen Investment Management LLC now owns 507,650 shares of the oil and gas company’s stock worth $1,817,000 after purchasing an additional 260,611 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of TETRA Technologies by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,515 shares of the oil and gas company’s stock worth $1,044,000 after buying an additional 45,535 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of TETRA Technologies by 51.2% in the 4th quarter. Two Sigma Investments LP now owns 187,072 shares of the oil and gas company’s stock valued at $670,000 after buying an additional 63,370 shares during the period. ProShare Advisors LLC grew its position in shares of TETRA Technologies by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 35,357 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 11,634 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TETRA Technologies by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,839 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 3,124 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

About TETRA Technologies

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.