Bank of New York Mellon Corp lifted its holdings in shares of Tesco Corporation (NASDAQ:TESO) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643,469 shares of the oil and gas company’s stock after acquiring an additional 42,690 shares during the period. Bank of New York Mellon Corp owned 1.38% of Tesco Corporation worth $2,864,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in TESO. Great West Life Assurance Co. Can grew its position in shares of Tesco Corporation by 7.7% during 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 acquiring an additional 4,420 shares during the last quarter. Comerica Bank grew its position in shares of Tesco Corporation by 4.8% during the first quarter. Comerica Bank now owns 51,436 shares of the oil and gas company’s stock worth $347,000 after acquiring an additional 2,357 shares during the last quarter. Swiss National Bank grew its position in shares of Tesco Corporation by 6.7% during the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 4,800 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Tesco Corporation during the first quarter worth approximately $266,000. Finally, TD Asset Management Inc. grew its position in shares of Tesco Corporation by 4.6% during the first quarter. TD Asset Management Inc. now owns 29,400 shares of the oil and gas company’s stock worth $237,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
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Tesco Corporation (TESO) opened at 5.00 on Wednesday. The stock’s market capitalization is $233.77 million. The company has a 50-day moving average of $4.94 and a 200-day moving average of $5.17. Tesco Corporation has a 52-week low of $3.70 and a 52-week high of $9.65.
Tesco Corporation (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). The company had revenue of $40.10 million for the quarter, compared to the consensus estimate of $41.01 million. Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. Tesco Corporation’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Equities research analysts expect that Tesco Corporation will post ($0.94) EPS for the current year.
A number of brokerages have recently issued reports on TESO. Cowen and Company set a $5.00 target price on shares of Tesco Corporation and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of Tesco Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine lowered shares of Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. FBR & Co set a $7.00 target price on shares of Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Tesco Corporation has an average 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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