United Services Automobile Association reduced its position in shares of Tesco Corporation (NASDAQ:TESO) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 310,292 shares of the oil and gas company’s stock after selling 9,790 shares during the period. United Services Automobile Association owned about 0.66% of Tesco Corporation worth $2,498,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Comerica Bank raised its position in shares of Tesco Corporation by 5.3% in the fourth quarter. Comerica Bank now owns 49,079 shares of the oil and gas company’s stock worth $464,000 after buying an additional 2,477 shares during the period. State Street Corp raised its stake in shares of Tesco Corporation by 17.8% in the fourth quarter. State Street Corp now owns 922,035 shares of the oil and gas company’s stock valued at $7,607,000 after buying an additional 139,320 shares during the period. FMR LLC raised its stake in Tesco Corporation by 10.8% in the fourth quarter. FMR LLC now owns 6,904,121 shares of the oil and gas company’s stock valued at $56,959,000 after buying an additional 672,978 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in Tesco Corporation by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 271,171 shares of the oil and gas company’s stock valued at $2,183,000 after buying an additional 1,038 shares during the last quarter. Finally, Swiss National Bank raised its stake in Tesco Corporation by 6.7% in the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Tesco Corporation (TESO) traded up 6.82% during mid-day trading on Wednesday, reaching $4.70. The company had a trading volume of 165,570 shares. The firm’s 50-day moving average is $4.38 and its 200-day moving average is $6.78. Tesco Corporation has a one year low of $3.70 and a one year high of $9.65. The firm’s market capitalization is $219.59 million.
Tesco Corporation (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.29) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.29). The firm had revenue of $36.70 million during the quarter, compared to the consensus estimate of $35.65 million. Tesco Corporation had a negative return on equity of 18.65% and a negative net margin of 55.00%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.46) earnings per share. On average, equities research analysts anticipate that Tesco Corporation will post ($0.92) earnings per share for the current fiscal year.
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Several research analysts recently issued reports on TESO shares. Cowen and Company reduced their price target on shares of Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Monday, June 5th. Seaport Global Securities reduced their price target on shares of Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded shares of Tesco Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.00.
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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