Tesco Corporation (TESO) Position Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP increased its holdings in shares of Tesco Corporation (NASDAQ:TESO) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,993,039 shares of the oil and gas company’s stock after purchasing an additional 263,160 shares during the quarter. Dimensional Fund Advisors LP owned 6.41% of Tesco Corporation worth $13,319,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TESO. FMR LLC increased its position in shares of Tesco Corporation by 9.8% during the 2nd quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock worth $31,187,000 after purchasing an additional 624,404 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in shares of Tesco Corporation during the 2nd quarter worth about $2,193,000. Foundry Partners LLC increased its position in shares of Tesco Corporation by 79.3% during the 2nd quarter. Foundry Partners LLC now owns 502,495 shares of the oil and gas company’s stock worth $2,236,000 after purchasing an additional 222,300 shares during the last quarter. Royce & Associates LP increased its position in shares of Tesco Corporation by 32.5% during the 2nd quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock worth $3,904,000 after purchasing an additional 215,400 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesco Corporation by 22.9% during the 2nd quarter. Northern Trust Corp now owns 643,487 shares of the oil and gas company’s stock worth $2,863,000 after purchasing an additional 119,830 shares during the last quarter. 88.11% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on TESO. Cowen and Company set a $5.00 price objective on Tesco Corporation and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research raised Tesco Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. B. Riley reissued a “buy” rating on shares of Tesco Corporation in a research report on Wednesday, November 1st. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, FBR & Co set a $7.00 price objective on Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.00.
In other Tesco Corporation news, CEO Fernando Rafael Assing sold 9,293 shares of Tesco Corporation stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $3.80, for a total value of $35,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 16,640 shares of company stock valued at $63,232. 1.70% of the stock is currently owned by corporate insiders.
Tesco Corporation (TESO) opened at $4.15 on Tuesday. Tesco Corporation has a 52-week low of $3.60 and a 52-week high of $9.65.
Tesco Corporation (NASDAQ:TESO) last released its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. The company had revenue of $40.50 million during the quarter, compared to the consensus estimate of $43.24 million. Tesco Corporation had a negative return on equity of 16.27% and a negative net margin of 38.60%. Tesco Corporation’s revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) EPS. sell-side analysts forecast that Tesco Corporation will post -0.94 EPS for the current fiscal year.
About Tesco Corporation
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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