State Street Corp lifted its position in Tesco Co. (NASDAQ:TESO) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,705 shares of the oil and gas company’s stock after acquiring an additional 37,244 shares during the quarter. State Street Corp owned approximately 2.27% of Tesco worth $4,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TESO. Virginia Retirement Systems ET AL bought a new stake in shares of Tesco in the 2nd quarter worth $105,000. Voya Investment Management LLC grew its stake in shares of Tesco by 25.9% in the 2nd quarter. Voya Investment Management LLC now owns 24,546 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 5,046 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Tesco in the 1st quarter worth $116,000. Tudor Investment Corp ET AL grew its stake in shares of Tesco by 180.1% in the 2nd quarter. Tudor Investment Corp ET AL now owns 29,332 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 18,861 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Tesco by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 34,112 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 87.10% of the company’s stock.

Tesco Co. (NASDAQ:TESO) opened at $4.15 on Wednesday. Tesco Co. has a fifty-two week low of $3.60 and a fifty-two week high of $9.65.

Tesco (NASDAQ:TESO) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $43.24 million. Tesco had a negative net margin of 38.60% and a negative return on equity of 16.27%. The firm’s quarterly revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.37) EPS. equities analysts anticipate that Tesco Co. will post -0.92 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the stock. Cowen set a $5.00 target price on shares of Tesco and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. ValuEngine lowered shares of Tesco from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. FBR & Co set a $7.00 target price on shares of Tesco and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, Goldman Sachs Group raised shares of Tesco from a “neutral” rating to a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Tesco currently has a consensus rating of “Hold” and a consensus price target of $6.00.

In related news, CEO Fernando Rafael Assing sold 9,293 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total value of $35,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 21,695 shares of company stock worth $82,720 over the last three months. 1.70% of the stock is owned by insiders.

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About Tesco

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 (NASDAQ:TESO)

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