Wells Fargo & Company MN lessened its stake in Tesco Corporation (NASDAQ:TESO) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,986 shares of the oil and gas company’s stock after selling 75,228 shares during the period. Wells Fargo & Company MN owned about 0.25% of Tesco Corporation worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Tesco Corporation by 13.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 494,506 shares of the oil and gas company’s stock valued at $2,201,000 after acquiring an additional 59,809 shares during the last quarter. 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 acquiring an additional 2,404 shares during the last quarter. Swiss National Bank increased its holdings in Tesco Corporation by 6.7% during the 1st quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 4,800 shares during the period. Royce & Associates LP increased its holdings in 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 valued at $3,904,000 after purchasing an additional 215,400 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its holdings in Tesco Corporation by 24.5% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 337,641 shares of the oil and gas company’s stock valued at $1,503,000 after purchasing an additional 66,470 shares during the period. 88.06% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the company. B. Riley restated a “buy” rating on shares of Tesco Corporation in a report on Wednesday, November 1st. Zacks Investment Research downgraded Tesco Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Cowen and Company set a $5.00 price target on Tesco Corporation and gave the company a “hold” rating in a report on Friday, October 6th. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, FBR & Co set a $7.00 price target on Tesco Corporation and gave the company a “buy” rating in a report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Tesco Corporation presently has an average rating of “Hold” and a consensus price target of $6.00.

Tesco Corporation (TESO) opened at $4.30 on Monday. Tesco Corporation has a twelve month low of $3.60 and a twelve month high of $9.65.

Tesco Corporation (NASDAQ:TESO) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Tesco Corporation had a negative return on equity of 16.27% and a negative net margin of 38.60%. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $43.24 million. During the same quarter in the previous year, the business earned ($0.37) EPS. Tesco Corporation’s revenue was up 33.2% compared to the same quarter last year. research analysts forecast that Tesco Corporation will post -0.94 EPS for the current year.

In other Tesco Corporation news, CEO Fernando Rafael Assing sold 9,293 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $3.80, for a total transaction of $35,313.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 16,640 shares of company stock worth $63,232 in the last quarter. Company insiders own 1.70% of the company’s stock.

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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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Institutional Ownership by Quarter for Tesco Corporation (NASDAQ:TESO)

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