Russell Investments Group Ltd. Takes Position in Tesco Corporation (TESO)
Russell Investments Group Ltd. bought a new stake in Tesco Corporation (NASDAQ:TESO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,800 shares of the oil and gas company’s stock, valued at approximately $221,000. Russell Investments Group Ltd. owned about 0.11% of Tesco Corporation at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Tesco Corporation in the 1st quarter valued at approximately $108,000. OppenheimerFunds Inc. grew its stake in shares of Tesco Corporation by 21.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 2,404 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of Tesco Corporation in the 1st quarter valued at approximately $116,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Tesco Corporation in the 1st quarter valued at approximately $144,000. Finally, Louisiana State Employees Retirement System grew its stake in shares of Tesco Corporation by 1.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.
Tesco Corporation (TESO) traded down 0.446% during mid-day trading on Tuesday, hitting $5.575. The company had a trading volume of 386,639 shares. The firm’s market cap is $260.65 million. The stock’s 50 day moving average price is $4.48 and its 200 day moving average price is $5.44. Tesco Corporation has a 52-week low of $3.70 and a 52-week high of $9.65.
Tesco Corporation (NASDAQ:TESO) last posted its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. The business had revenue of $40.10 million during the quarter, compared to analyst estimates of $41.01 million. During the same quarter in the prior year, the business earned ($0.39) earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts predict that Tesco Corporation will post ($0.94) EPS for the current fiscal year.
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Several brokerages have weighed in on TESO. Zacks Investment Research upgraded Tesco Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. FBR & Co set a $7.00 price target on Tesco Corporation and gave the company a “buy” rating in a research note on Wednesday, August 16th. Seaport Global Securities restated a “neutral” rating on shares of Tesco Corporation in a research note on Wednesday, August 9th. Finally, Cowen and Company decreased their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, June 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Tesco Corporation presently has an average rating of “Hold” and a consensus target price of $6.50.
Tesco Corporation 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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