Tetra Technologies: A Good Opportunity To Get On Board
Tetra Technologies has grossly underperformed its peers over the past nine months, but we believe there could be some merit in looking at the shares now. A thrust towards automation, reduced G&A, a pickup in Water and Flowback services, and a transition to high-margin avenues bode well for the company's operational outlook. Given the medium-term EBITDA and EPS outlook on the cards, the forward valuations look incredibly cheap.
TETRA Technologies, Inc. (NYSE:TTI) Shares Purchased by Panagora Asset Management Inc.
Panagora Asset Management Inc. grew its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI – Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 762,963 shares of the oil and gas company’s stock after purchasing an additional 127,378 shares during the period. Panagora Asset Management Inc. owned approximately 0.59% of TETRA Technologies worth $3,449,000 at the end of the most recent reporting period. A number of other large investors have also modified their holdings of TTI. Mirae Asset Global Investments Co. Ltd. boosted its holdings in TETRA Technologies by 6.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,973 shares of the oil and gas company’s stock worth $293,000 after buying an additional 2,644 shares in the last quarter. Swiss National Bank boosted its stake in shares of TETRA Technologies by 1.0% during the 3rd quarter. Swiss National Bank now owns 270,300 shares of the oil and gas company’s stock worth $1,725,000 after acquiring an additional 2,700 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of TETRA Technologies by 36.7% in the 4th quarter. Byrne Asset Management LLC now owns 13,400 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 3,600 shares during the period. Quantbot Technologies LP purchased a new position in TETRA Technologies in the 3rd quarter valued at approximately $33,000. Finally, Fortitude Family Office LLC purchased a new position in TETRA Technologies in the 4th quarter valued at approximately $26,000. 70.19% of the stock is owned by hedge funds and other institutional investors. Analyst Upgrades and Downgrades Several analysts have weighed in on the company. Northland Securities assumed coverage on TETRA Technologies in a report on Tuesday, February 20th. They issued an “outperform” rating and a $6.00 target price on the stock. Benchmark restated a “buy” rating and set a $8.00 target price on shares of TETRA Technologies in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00. Check Out Our Latest Stock Report on TTI TETRA Technologies Stock Performance NYSE TTI opened at $4.21 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.44 and a debt-to-equity ratio of 1.23. TETRA Technologies, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $6.77. The business has a fifty day moving average of $4.36 and a 200-day moving average of $4.33. The stock has a market cap of $552.10 million, a price-to-earnings ratio of 26.31 and a beta of 2.21. TETRA Technologies (NYSE:TTI – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $153.13 million for the quarter, compared to analysts’ expectations of $144.76 million. TETRA Technologies had a net margin of 3.27% and a return on equity of 25.42%. As a group, analysts predict that TETRA Technologies, Inc. will post 0.27 earnings per share for the current fiscal year. TETRA Technologies Profile (Free Report) 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.
