Benchmark Reaffirms “Buy” Rating for TETRA Technologies (NYSE:TTI)

Benchmark reaffirmed their buy rating on shares of TETRA Technologies (NYSE:TTI) in a research report report published on Wednesday, Benzinga reports. Benchmark currently has a $8.00 price target on the oil and gas company’s stock.

Separately, Northland Securities began coverage on shares of TETRA Technologies in a report on Tuesday, February 20th. They issued an outperform rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $7.00.

TETRA Technologies Stock Up 4.4 %

TTI stock opened at $3.96 on Wednesday. The company has a market capitalization of $518.66 million, a P/E ratio of 24.72 and a beta of 2.21. The firm’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $4.49. TETRA Technologies has a 12 month low of $2.56 and a 12 month high of $6.77. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.44 and a quick ratio of 1.47.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $153.13 million during the quarter, compared to the consensus estimate of $144.76 million. TETRA Technologies had a return on equity of 25.42% and a net margin of 3.27%. As a group, equities research analysts forecast that TETRA Technologies will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On TETRA Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Profund Advisors LLC acquired a new position in shares of TETRA Technologies during the 3rd quarter valued at about $237,000. Algert Global LLC acquired a new position in TETRA Technologies in the 3rd quarter valued at about $2,860,000. CenterBook Partners LP grew its holdings in shares of TETRA Technologies by 34.5% in the third quarter. CenterBook Partners LP now owns 571,684 shares of the oil and gas company’s stock valued at $3,647,000 after purchasing an additional 146,680 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of TETRA Technologies during the fourth quarter worth $26,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in TETRA Technologies by 174.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,128 shares of the oil and gas company’s stock worth $5,864,000 after purchasing an additional 583,854 shares during the period. 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.