TIAA CREF Investment Management LLC grew its stake in Tesco Corporation (NASDAQ:TESO) by 41.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,064 shares of the oil and gas company’s stock after purchasing an additional 62,636 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.45% of Tesco Corporation worth $944,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Tesco Corporation by 13.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 494,506 shares of the oil and gas company’s stock valued at $2,201,000 after purchasing an additional 59,809 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Tesco Corporation by 21.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 2,404 shares during the period. Swiss National Bank lifted its stake in shares of Tesco Corporation by 6.7% in the 1st quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 4,800 shares during the period. Royce & Associates LP lifted its stake in shares of Tesco Corporation by 32.5% in the 2nd quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock valued at $3,904,000 after purchasing an additional 215,400 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Tesco Corporation by 24.5% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 337,641 shares of the oil and gas company’s stock valued at $1,503,000 after purchasing an additional 66,470 shares during the period. 88.06% of the stock is currently owned by institutional investors.
Tesco Corporation (TESO) opened at $4.30 on Friday. Tesco Corporation has a 1-year low of $3.60 and a 1-year high of $9.65.
Tesco Corporation (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. The company had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $43.24 million. Tesco Corporation had a negative return on equity of 16.27% and a negative net margin of 38.60%. Tesco Corporation’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) EPS. equities research analysts forecast that Tesco Corporation will post -0.94 EPS for the current fiscal year.
In related news, CEO Fernando Rafael Assing sold 9,293 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total value of $35,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 16,640 shares of company stock valued at $63,232 over the last quarter. 1.70% of the stock is currently owned by company insiders.
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A number of research analysts have recently weighed in on the company. Cowen and Company set a $5.00 price target on Tesco Corporation and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised Tesco Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. B. Riley reaffirmed a “buy” rating on shares of Tesco Corporation in a research note on Wednesday, November 1st. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, FBR & Co set a $7.00 price objective on Tesco Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.00.
Tesco Corporation Company Profile
Tesco Corporation is a provider of technology-based solutions for drilling, servicing and completion of wells for the upstream energy industry. The Company’s operations consist of top drives and automated pipe handling equipment sales and rentals; aftermarket sales and services, and tubular services, including related products and accessories sales.
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