Teton Advisors Inc. held its position in shares of Tesco Corporation (NASDAQ:TESO) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 57,900 shares of the oil and gas company’s stock at the end of the first quarter. Teton Advisors Inc. owned approximately 0.12% of Tesco Corporation worth $466,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in Tesco Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock worth $153,000 after buying an additional 300 shares during the last quarter. Teza Capital Management LLC acquired a new position in Tesco Corporation during the fourth quarter worth approximately $270,000. Comerica Bank boosted its position in Tesco Corporation by 4.8% in the first quarter. Comerica Bank now owns 51,436 shares of the oil and gas company’s stock worth $347,000 after buying an additional 2,357 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Tesco Corporation by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 61,673 shares of the oil and gas company’s stock worth $493,000 after buying an additional 4,420 shares during the last quarter. Finally, Swiss National Bank boosted its position 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 worth $615,000 after buying an additional 4,800 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.
Shares of Tesco Corporation (TESO) traded down 3.61% during midday trading on Friday, hitting $4.00. The stock had a trading volume of 2,002,996 shares. The stock’s 50-day moving average price is $5.17 and its 200 day moving average price is $7.45. Tesco Corporation has a 52 week low of $3.95 and a 52 week high of $9.65. The company’s market cap is $186.88 million.
Tesco Corporation (NASDAQ:TESO) last posted its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.29). The business had revenue of $36.70 million during the quarter, compared to analyst estimates of $35.65 million. Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.46) earnings per share. On average, equities analysts forecast that Tesco Corporation will post ($0.91) earnings per share for the current year.
TESO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Tesco Corporation from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Tuesday, February 28th. FBR & Co reiterated a “buy” rating and set a $9.00 price target on shares of Tesco Corporation in a report on Sunday, March 12th. Cowen and Company reduced their price objective on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, June 5th. Finally, Seaport Global Securities reduced their price objective on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Tesco Corporation has an average rating of “Hold” and an average target price of $7.00.
About Tesco Corporation
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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