Shares of Tesco Corp. (NASDAQ:TESO) were up 2.7% on Friday . The company traded as high as $6.88 and last traded at $6.84, with a volume of 216,671 shares traded. The stock had previously closed at $6.66.

A number of analysts recently weighed in on TESO shares. FBR & Co set a $9.00 target price on shares of Tesco Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Zacks Investment Research lowered shares of Tesco Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Tesco Corp. in a research note on Friday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $8.56.

The company’s 50-day moving average is $7.07 and its 200 day moving average is $7.56. The company’s market cap is $325.29 million.

Tesco Corp. (NASDAQ:TESO) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The firm had revenue of $33.60 million for the quarter, compared to analyst estimates of $32.48 million. During the same period last year, the company earned ($0.21) EPS. The firm’s quarterly revenue was down 54.9% on a year-over-year basis. Equities research analysts anticipate that Tesco Corp. will post ($1.53) EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in TESO. FMR LLC raised its position in Tesco Corp. by 35.4% in the second quarter. FMR LLC now owns 6,761,794 shares of the company’s stock valued at $45,236,000 after buying an additional 1,769,481 shares in the last quarter. Wellington Management Group LLP raised its position in Tesco Corp. by 0.5% in the first quarter. Wellington Management Group LLP now owns 5,490,036 shares of the company’s stock valued at $47,270,000 after buying an additional 29,257 shares in the last quarter. Vanguard Group Inc. raised its position in Tesco Corp. by 18.1% in the second quarter. Vanguard Group Inc. now owns 3,863,596 shares of the company’s stock valued at $25,848,000 after buying an additional 592,205 shares in the last quarter. BlackRock Fund Advisors raised its position in Tesco Corp. by 15.0% in the second quarter. BlackRock Fund Advisors now owns 3,130,715 shares of the company’s stock valued at $20,944,000 after buying an additional 407,739 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tesco Corp. by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,728,231 shares of the company’s stock valued at $18,252,000 after buying an additional 185,057 shares in the last quarter. 94.87% of the stock is currently owned by institutional investors and hedge funds.

About Tesco Corp.

Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.

5 Day Chart for NASDAQ:TESO

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