Schwab Charles Investment Management Inc. raised its holdings in Tesco Co. (NASDAQ:TESO) by 17.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 583,192 shares of the oil and gas company’s stock after purchasing an additional 88,686 shares during the period. Schwab Charles Investment Management Inc. owned about 1.25% of Tesco worth $3,179,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its holdings in Tesco by 9.8% in the second quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock valued at $31,187,000 after purchasing an additional 624,404 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tesco by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,993,039 shares of the oil and gas company’s stock valued at $13,319,000 after purchasing an additional 263,160 shares during the period. State Street Corp grew its holdings in Tesco by 3.6% in the second quarter. State Street Corp now owns 1,061,705 shares of the oil and gas company’s stock valued at $4,723,000 after purchasing an additional 37,244 shares during the period. Northern Trust Corp grew its holdings in Tesco by 22.9% in the second quarter. Northern Trust Corp now owns 643,487 shares of the oil and gas company’s stock valued at $2,863,000 after purchasing an additional 119,830 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Tesco by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 643,469 shares of the oil and gas company’s stock valued at $2,864,000 after purchasing an additional 42,690 shares during the period. 87.10% of the stock is currently owned by institutional investors.
Shares of Tesco Co. (NASDAQ:TESO) opened at $3.70 on Monday. The stock has a market capitalization of $173.00, a P/E ratio of -2.94 and a beta of 1.17. Tesco Co. has a 12 month low of $3.60 and a 12 month high of $9.65.
TESO has been the topic of several research analyst reports. B. Riley reissued a “buy” rating on shares of Tesco in a report on Wednesday, November 1st. Goldman Sachs Group raised Tesco from a “neutral” rating to a “buy” rating in a report on Monday, December 4th. Cowen set a $5.00 price target on Tesco and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Zacks Investment Research raised Tesco from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Tesco presently has a consensus rating of “Hold” and an average target price of $6.00.
In other news, CEO Fernando Rafael Assing sold 7,146 shares of Tesco stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $4.20, for a total value of $30,013.20. Following the sale, the chief executive officer now directly owns 164,247 shares of the company’s stock, valued at $689,837.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 40,633 shares of company stock worth $161,340 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.
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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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