Virginia Retirement Systems ET AL Purchases Shares of 23,680 Tesco Corporation (TESO)
Virginia Retirement Systems ET AL purchased a new stake in Tesco Corporation (NASDAQ:TESO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,680 shares of the oil and gas company’s stock, valued at approximately $105,000. Virginia Retirement Systems ET AL owned 0.05% of Tesco Corporation at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Citadel Advisors LLC purchased a new stake in Tesco Corporation in the 1st quarter valued at about $108,000. OppenheimerFunds Inc. lifted its stake in shares of Tesco Corporation by 21.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 2,404 shares in the last quarter. KCG Holdings Inc. acquired a new position in shares of Tesco Corporation in the 1st quarter valued at about $116,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Tesco Corporation in the 1st quarter valued at about $144,000. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Tesco Corporation by 1.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 91.12% of the company’s stock.
Tesco Corporation (TESO) opened at 4.60 on Wednesday. Tesco Corporation has a 52-week low of $3.70 and a 52-week high of $9.65. The company’s 50-day moving average price is $4.38 and its 200 day moving average price is $5.60. The firm’s market capitalization is $215.07 million.
Tesco Corporation (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). The company had revenue of $40.10 million for the quarter, compared to analyst estimates of $41.01 million. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.39) EPS. Equities research analysts predict that Tesco Corporation will post ($0.94) earnings per share for the current year.
Several research firms have recently weighed in on TESO. Zacks Investment Research raised Tesco Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine lowered Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. FBR & Co set a $7.00 price objective on Tesco Corporation and gave the company a “buy” rating in a research note on Wednesday, August 16th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corporation in a research note on Wednesday, August 9th. Finally, Cowen and Company reduced their price objective on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Tesco Corporation currently has an average rating of “Hold” and an average price target of $6.50.
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Tesco Corporation 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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