Tesco Co. (NASDAQ:TESO) COO John Terrell Gatlin sold 2,928 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $3.75, for a total transaction of $10,980.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $37,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Tesco Co. (NASDAQ:TESO) opened at $4.35 on Tuesday. Tesco Co. has a 52-week low of $3.60 and a 52-week high of $9.65.
Tesco (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. Tesco had a negative return on equity of 16.27% and a negative net margin of 38.60%. The business had revenue of $40.50 million for the quarter, compared to analyst estimates of $43.24 million. During the same quarter in the prior year, the firm posted ($0.37) EPS. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. analysts predict that Tesco Co. will post -0.92 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in TESO. FMR LLC lifted its position in shares of Tesco by 9.8% during the 2nd quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock valued at $31,187,000 after buying an additional 624,404 shares in the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Tesco during the 3rd quarter valued at approximately $2,976,000. Tocqueville Asset Management L.P. purchased a new position in shares of Tesco during the 2nd quarter valued at approximately $2,193,000. Dimensional Fund Advisors LP lifted its position in shares of Tesco by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,993,039 shares of the oil and gas company’s stock valued at $13,319,000 after buying an additional 263,160 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Tesco by 79.3% during the 2nd quarter. Foundry Partners LLC now owns 502,495 shares of the oil and gas company’s stock valued at $2,236,000 after buying an additional 222,300 shares in the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.
Several brokerages recently weighed in on TESO. Cowen set a $5.00 price target on shares of Tesco and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine downgraded shares of Tesco from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. FBR & Co set a $7.00 price target on shares of Tesco and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, Goldman Sachs Group upgraded Tesco from a “neutral” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.00.
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Tesco 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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