Citadel Advisors LLC Invests $108,000 in Tesco Corporation (TESO)
Citadel Advisors LLC acquired a new position in Tesco Corporation (NASDAQ:TESO) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,434 shares of the oil and gas company’s stock, valued at approximately $108,000.
Several other hedge funds have also bought and sold shares of the company. OppenheimerFunds Inc. raised its position in shares of 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 buying an additional 2,404 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Tesco Corporation during the first quarter worth $144,000. Louisiana State Employees Retirement System raised its position in Tesco Corporation 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 last quarter. Arizona State Retirement System raised its position in Tesco Corporation by 2.1% in the first quarter. Arizona State Retirement System now owns 24,370 shares of the oil and gas company’s stock worth $196,000 after buying an additional 500 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in Tesco Corporation by 4.6% in the first quarter. TD Asset Management Inc. now owns 29,400 shares of the oil and gas company’s stock worth $237,000 after buying an additional 1,300 shares during the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Tesco Corporation (NASDAQ:TESO) traded down 1.10% on Friday, hitting $4.50. The stock had a trading volume of 249,141 shares. The company’s 50 day moving average is $4.32 and its 200 day moving average is $6.45. The stock’s market cap is $210.24 million. Tesco Corporation has a one year low of $3.70 and a one year high of $9.65.
Tesco Corporation (NASDAQ:TESO) last released its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.29). Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The business had revenue of $36.70 million for the quarter, compared to analyst estimates of $35.65 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Tesco Corporation will post ($0.92) EPS for the current fiscal year.
TESO has been the subject of several recent analyst reports. Cowen and Company cut their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a research note on Monday, June 5th. Zacks Investment Research upgraded Tesco Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, May 10th. Finally, Seaport Global Securities lowered their price objective on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $7.00.
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.
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