Tesco Co. (TESO) Stake Cut by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC reduced its position in Tesco Co. (NASDAQ:TESO) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 149,428 shares of the oil and gas company’s stock after selling 10,499 shares during the period. TIAA CREF Investment Management LLC’s holdings in Tesco were worth $1,203,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Tesco 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 period. Prudential Financial Inc. increased its position in Tesco by 0.4% in the first quarter. Prudential Financial Inc. now owns 78,492 shares of the oil and gas company’s stock valued at $632,000 after buying an additional 330 shares during the last quarter. Arizona State Retirement System increased its position in Tesco by 2.1% in the first quarter. Arizona State Retirement System now owns 24,370 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 500 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in Tesco by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 271,171 shares of the oil and gas company’s stock valued at $2,183,000 after buying an additional 1,038 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in Tesco by 4.6% in the first quarter. TD Asset Management Inc. now owns 29,400 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 1,300 shares during the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.
Shares of Tesco Co. (NASDAQ TESO) traded up 0.575% during midday trading on Wednesday, reaching $4.375. The company’s stock had a trading volume of 121,833 shares. The stock’s 50-day moving average price is $4.38 and its 200-day moving average price is $6.16. Tesco Co. has a 12-month low of $3.70 and a 12-month high of $9.65. The company’s market cap is $204.55 million.
Tesco (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. The business had revenue of $40.10 million for the quarter, compared to analyst estimates of $41.01 million. Tesco had a negative return on equity of 16.64% and a negative net margin of 30.16%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.39) earnings per share. On average, analysts expect that Tesco Co. will post ($0.94) EPS for the current fiscal year.
A number of research firms have recently commented on TESO. Cowen and Company lowered their target price on Tesco from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, June 5th. Seaport Global Securities restated a “neutral” rating on shares of Tesco in a report on Wednesday, August 9th. Zacks Investment Research lowered Tesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, FBR & Co set a $7.00 target price on Tesco and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Tesco presently has a consensus rating of “Hold” and a consensus price target of $6.50.
Tesco 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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