TETRA Technologies (NYSE:TTI) Shares Gap Up - Should You Buy?

TETRA Technologies, Inc. (NYSE:TTI - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.67, but opened at $3.78. TETRA Technologies shares last traded at $3.84, with a volume of 154,632 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on TTI shares. StockNews.com upgraded TETRA Technologies from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies to a "strong-buy" rating in a report on Monday, October 21st. Finally, D. Boral Capital reiterated a "buy" rating and issued a $5.50 target price on shares of TETRA Technologies in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $6.50.

TETRA Technologies Price Performance

The stock has a market cap of $466.61 million, a P/E ratio of 177.09 and a beta of 2.10. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The company's fifty day simple moving average is $3.60 and its 200-day simple moving average is $3.38.

TETRA Technologies (NYSE:TTI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. The business had revenue of $141.70 million for the quarter, compared to analysts' expectations of $156.43 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, sell-side analysts forecast that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of TETRA Technologies by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,129,181 shares of the oil and gas company's stock valued at $10,827,000 after purchasing an additional 96,898 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TETRA Technologies by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,728,035 shares of the oil and gas company's stock valued at $8,458,000 after acquiring an additional 17,802 shares during the last quarter. Huber Capital Management LLC raised its position in shares of TETRA Technologies by 5.1% during the second quarter. Huber Capital Management LLC now owns 1,945,586 shares of the oil and gas company's stock worth $6,732,000 after purchasing an additional 95,096 shares during the period. Masters Capital Management LLC lifted its holdings in shares of TETRA Technologies by 70.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company's stock valued at $5,882,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its position in shares of TETRA Technologies by 57.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company's stock valued at $4,346,000 after purchasing an additional 514,054 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

TETRA Technologies Company Profile

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.