Ameriprise Financial Inc. Has $2 Million Position in Tesco Corporation (NASDAQ:TESO)
Ameriprise Financial Inc. increased its stake in Tesco Corporation (NASDAQ:TESO) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,609 shares of the oil and gas company’s stock after buying an additional 13,077 shares during the period. Ameriprise Financial Inc. owned approximately 0.53% of Tesco Corporation worth $2,001,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Tesco Corporation by 10.8% in the fourth quarter. FMR LLC now owns 6,904,121 shares of the oil and gas company’s stock valued at $56,959,000 after buying an additional 672,978 shares during the period. State Street Corp increased its stake in Tesco Corporation by 17.8% in the fourth quarter. State Street Corp now owns 922,035 shares of the oil and gas company’s stock valued at $7,607,000 after buying an additional 139,320 shares during the period. Granite Investment Partners LLC increased its stake in Tesco Corporation by 25.5% in the first quarter. Granite Investment Partners LLC now owns 191,871 shares of the oil and gas company’s stock valued at $1,544,000 after buying an additional 38,976 shares during the period. Karp Capital Management Corp bought a new stake in Tesco Corporation during the first quarter valued at about $266,000. Finally, Numeric Investors LLC increased its stake in Tesco Corporation by 36.9% in the fourth quarter. Numeric Investors LLC now owns 96,800 shares of the oil and gas company’s stock valued at $799,000 after buying an additional 26,100 shares during the period. Institutional investors own 95.66% of the company’s stock.
Tesco Corporation (NASDAQ:TESO) traded down 2.22% during trading on Monday, hitting $4.40. The company had a trading volume of 151,159 shares. The stock’s market capitalization is $205.57 million. Tesco Corporation has a one year low of $3.70 and a one year high of $9.65. The stock has a 50-day moving average of $4.32 and a 200-day moving average of $6.45.
Tesco Corporation (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.29). Tesco Corporation had a negative return on equity of 18.65% and a negative net margin of 55.00%. The company had revenue of $36.70 million during the quarter, compared to analysts’ expectations of $35.65 million. During the same quarter in the previous year, the company posted ($0.46) earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Tesco Corporation will post ($0.92) EPS for the current year.
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TESO has been the subject of several recent analyst reports. 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. Seaport Global Securities decreased their price target on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, May 10th. Finally, Cowen and Company decreased 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.00.
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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