Bank of New York Mellon Corp raised its position in shares of Tesco Corp. (NASDAQ:TESO) by 6.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 518,884 shares of the company’s stock after buying an additional 30,380 shares during the period. Bank of New York Mellon Corp owned approximately 1.32% of Tesco Corp. worth $3,472,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. HL Financial Services LLC boosted its stake in Tesco Corp. by 17.9% in the second quarter. HL Financial Services LLC now owns 131,903 shares of the company’s stock worth $882,000 after buying an additional 20,010 shares during the period. Louisiana State Employees Retirement System boosted its stake in Tesco Corp. by 17.8% in the second quarter. Louisiana State Employees Retirement System now owns 20,500 shares of the company’s stock worth $137,000 after buying an additional 3,100 shares during the period. Gradient Investments LLC boosted its stake in Tesco Corp. by 85.5% in the second quarter. Gradient Investments LLC now owns 60,501 shares of the company’s stock worth $405,000 after buying an additional 27,881 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in Tesco Corp. by 52.4% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 221,651 shares of the company’s stock worth $1,483,000 after buying an additional 76,239 shares during the period. Finally, Arizona State Retirement System boosted its stake in Tesco Corp. by 1.5% in the first quarter. Arizona State Retirement System now owns 20,170 shares of the company’s stock worth $174,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 94.87% of the company’s stock.
Tesco Corp. (NASDAQ:TESO) traded down 0.13% during mid-day trading on Thursday, hitting $7.86. The stock had a trading volume of 187,782 shares. The company’s 50 day moving average is $7.25 and its 200-day moving average is $7.51. The stock’s market capitalization is $364.73 million. Tesco Corp. has a 52 week low of $5.13 and a 52 week high of $9.77.
Tesco Corp. (NASDAQ:TESO) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Tesco Corp. had a negative return on equity of 15.93% and a negative net margin of 95.07%. The business had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $32.48 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The business’s revenue was down 54.9% on a year-over-year basis. On average, analysts expect that Tesco Corp. will post ($1.53) EPS for the current fiscal year.
Several research firms have weighed in on TESO. Barclays PLC reiterated a “buy” rating on shares of Tesco Corp. in a research report on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corp. in a research report on Friday, August 19th. Zacks Investment Research cut Tesco Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, August 13th. Finally, FBR & Co set a $9.00 price objective on Tesco Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $8.56.
Tesco Corp. Company Profile
Tesco Corporation is engaged in designing, assembly and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors, and exploration and production companies around the world.
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