State of Tennessee Treasury Department held its stake in Tesco Corporation (NASDAQ:TESO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,672 shares of the oil and gas company’s stock at the close of the second quarter. State of Tennessee Treasury Department owned 0.09% of Tesco Corporation worth $194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TESO. Virginia Retirement Systems ET AL bought a new stake in shares of Tesco Corporation during the second quarter valued at about $105,000. Citadel Advisors LLC acquired a new stake in Tesco Corporation in the first quarter worth about $108,000. OppenheimerFunds Inc. lifted its holdings in Tesco Corporation by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 2,404 shares during the period. KCG Holdings Inc. acquired a new stake in Tesco Corporation in the first quarter worth about $116,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Tesco Corporation in the first quarter worth about $144,000. 91.12% of the stock is currently owned by institutional investors.

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Shares of Tesco Corporation (NASDAQ:TESO) opened at 5.35 on Wednesday. Tesco Corporation has a 1-year low of $3.70 and a 1-year high of $9.65. The company’s market cap is $250.13 million. The stock has a 50 day moving average price of $4.80 and a 200-day moving average price of $5.25.

Tesco Corporation (NASDAQ:TESO) last announced its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. The company had revenue of $40.10 million during the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the firm posted ($0.39) earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Analysts predict that Tesco Corporation will post ($0.94) earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on TESO shares. Zacks Investment Research lowered shares of Tesco Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Seaport Global Securities restated a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. FBR & Co set a $7.00 price target on shares of Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, ValuEngine lowered shares of Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Tesco Corporation has an average rating of “Hold” and an average price target of $6.50.

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.

Institutional Ownership by Quarter for Tesco Corporation (NASDAQ:TESO)

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