Dimensional Fund Advisors LP increased its holdings in shares of Tesco Co. (NASDAQ:TESO) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,054,392 shares of the oil and gas company’s stock after purchasing an additional 61,353 shares during the period. Dimensional Fund Advisors LP owned 6.53% of Tesco worth $16,647,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Tesco by 17.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 583,192 shares of the oil and gas company’s stock valued at $3,179,000 after purchasing an additional 88,686 shares in the last quarter. K2 Principal Fund L.P. bought a new position in shares of Tesco during the third quarter valued at approximately $2,976,000. Kassirer Asset Management Corp acquired a new stake in Tesco in the third quarter valued at approximately $912,000. Shell Asset Management Co. acquired a new stake in Tesco in the third quarter valued at approximately $654,000. Finally, Susquehanna International Group LLP acquired a new stake in Tesco in the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 87.10% of the company’s stock.
TESO has been the subject of several recent analyst reports. Goldman Sachs Group upgraded shares of Tesco from a “neutral” rating to a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, B. Riley restated a “hold” rating on shares of Tesco in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Tesco has an average rating of “Hold” and an average price target of $6.00.
In other Tesco news, CEO Fernando Rafael Assing sold 7,146 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $4.20, for a total value of $30,013.20. Following the completion of the sale, the chief executive officer now directly owns 164,247 shares in the company, valued at $689,837.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 21,065 shares of company stock valued at $87,128. 1.70% of the stock is owned by insiders.
Shares of Tesco Co. (TESO) traded down $0.25 on Friday, reaching $3.70. 15,653,700 shares of the company’s stock traded hands, compared to its average volume of 484,356. The firm has a market capitalization of $173.00, a P/E ratio of -2.94 and a beta of 1.17. Tesco Co. has a 52 week low of $3.60 and a 52 week high of $9.65.
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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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