TETRA Technologies (TTI) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.18. The company posted revenue of $175.66 million in the period, compared to analysts expectations of $188.83 million. The company’s revenue was down -44.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on TETRA Technologies. TETRA Technologies was Resumed by Credit Suisse to “Outperform” on Jul 18, 2016. Shares were Reiterated by Wunderlich on Jun 16, 2016 to “Buy” and Lowered the Price Target to $ 9 from a previous price target of $10 .Company shares were Reiterated by Wunderlich on Jun 10, 2016 to “Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $6 .
TETRA Technologies opened for trading at $5.93 and hit $6.33 on the upside on Friday, eventually ending the session at $6.3, with a gain of 6.42% or 0.38 points. The heightened volatility saw the trading volume jump to 11,94,382 shares. Company has a market cap of $507 M.
In a different news, on Jun 29, 2016, Bass C Jr Wallace (Sr. VP & General Counsel) sold 23,375 shares at $5.91 per share price. According to the SEC, on Jun 29, 2016, Peter J Pintar (Sr. VP) sold 20,545 shares at $5.91 per share price. On Jun 23, 2016, Elisabeth K Evans (VP Human Resources) sold 16,205 shares at $6.02 per share price, according to the Form-4 filing with the securities and exchange commission.
TETRA Technologies Inc. is an oil and gas services company. The Company is focused on completion fluids and associated products and services water management frac flowback production well testing offshore rig cooling compression services and equipment and selected offshore services including well plugging and abandonment decommissioning and diving. The Company has a limited domestic oil and gas production business. It is composed of five segments organized into four divisions: Fluids Production Testing Compression and Offshore. The Company’s Fluids division manufactures and markets clear brine fluids additives and associated products and services. The Production Testing division provides frac flowback production well testing offshore rig cooling and other associated services. The Compression division is a provider of compression services and equipment. The Offshore division provides downhole and subsea services decommissioning and certain construction services.