14 Best American Energy Stocks To Buy According to Analysts

4. TETRA Technologies, Inc. (NYSE:TTI)

Number of Hedge Fund Investors  in Q1 2024: 23

Average Analyst Share Price Target Upside: 104.97%

Average Analyst Share Price Target: $7.42

TETRA Technologies, Inc. (NYSE:TTI) provides products and services that help oil companies in their drilling operations. It benefits from a diversified business model that allows TETRA Technologies, Inc. (NYSE:TTI) to help dispose of water and sand for firms and enable businesses to produce lithium as well. TETRA Technologies, Inc. (NYSE:TTI) has already teamed up with oil. giant Exxon to mine lithium. This means that TETRA is able to profit from the expansion of US oil production and the potential growth in demand of EVs, simultaneously. TETRA Technologies, Inc. (NYSE:TTI) entered into another deal for an energy storage facility in January 2024, through which it will provide electrolytes for an energy storage facility. This contract will last four years to provide added visibility into TETRA Technologies, Inc. (NYSE:TTI)’s revenue.

TETRA Technologies, Inc. (NYSE:TTI)’s management commented on its projects during the Q1 2024 earnings call where it shared:

“On the energy storage side, we remain in close contact with Eos are very encouraged with the progress they’re making on automating their first production line. We fully expect Eos to be up and running their Z3 zinc bromine battery automation line in the second half of this year, which is expected to result material sales of electrolyte from TETRA. In the coming weeks, we’re hopeful to have our first commercial desalination for beneficial reuse contract in place that should be operational by the first part of 2025.

This is planned to be a 24,000 barrel a day South Texas facility. We’re also in discussions for a one-year commercial pilot project in the New Mexico area of the Delaware Basin using TETRA’s proprietary pretreatment technology and our solution for higher total dissolved solids. We’re in the process of tying the legal terms and conditions together for these two projects, which has delayed our first project slightly but we’re optimistic to close on both of these opportunities in the near-term. The demand for beneficial reuse projects continues to build, as this solution is the ultimate answer to overpressure disposal wells in areas like the Permian Basin that need usable water sources.”