TETRA Technologies (NYSE:TTI) Issues Earnings Results, Meets Estimates

TETRA Technologies (NYSE:TTI) announced its quarterly earnings results on Tuesday. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03, Briefing.com reports. TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year.

TETRA Technologies Stock Up 22.0 %

NYSE TTI traded up $0.65 during mid-day trading on Wednesday, reaching $3.60. The stock had a trading volume of 3,108,717 shares, compared to its average volume of 1,330,882. The company has a fifty day moving average price of $3.11 and a 200 day moving average price of $3.47. TETRA Technologies has a 1 year low of $2.68 and a 1 year high of $5.12. The stock has a market cap of $473.22 million, a PE ratio of 43.26 and a beta of 2.04. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.41 and a quick ratio of 1.72.

Analysts Set New Price Targets

A number of research firms have weighed in on TTI. StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.00.

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.