TETRA Technologies (NYSE:TTI) Reaches New 12-Month High - Here's What Happened

TETRA Technologies, Inc. (NYSE:TTI - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $5.12 and last traded at $5.07, with a volume of 385765 shares. The stock had previously closed at $4.98.

Analyst Ratings Changes

TTI has been the topic of several recent analyst reports. EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies to a "strong-buy" rating in a research note on Monday, October 21st. D. Boral Capital reiterated a "buy" rating and issued a $5.50 target price on shares of TETRA Technologies in a research note on Wednesday, January 8th. Finally, StockNews.com upgraded shares of TETRA Technologies from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TETRA Technologies presently has a consensus rating of "Buy" and an average target price of $6.50.

TETRA Technologies Stock Performance

The company's 50-day moving average price is $3.79 and its two-hundred day moving average price is $3.44. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. The stock has a market cap of $645.21 million, a PE ratio of 244.87 and a beta of 2.06.

TETRA Technologies (NYSE:TTI - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, meeting 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 $141.70 million for the quarter, compared to analyst estimates of $156.43 million. During the same quarter last year, the firm earned $0.07 EPS. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On TETRA Technologies

Large investors have recently added to or reduced their stakes in the company. Balboa Wealth Partners purchased a new position in TETRA Technologies during the 3rd quarter valued at about $33,000. Townsquare Capital LLC purchased a new position in TETRA Technologies during the 3rd quarter valued at about $36,000. Point72 DIFC Ltd lifted its position in TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 5,966 shares during the period. US Bancorp DE lifted its position in TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 16,875 shares during the period. Finally, FMR LLC lifted its position in TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 8,084 shares during the period. Institutional investors 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.

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