Schwab Charles Investment Management Inc. lifted its holdings in shares of Tesco Co. (NASDAQ:TESO) by 17.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 583,192 shares of the oil and gas company’s stock after buying an additional 88,686 shares during the period. Schwab Charles Investment Management Inc. owned about 1.25% of Tesco worth $3,179,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Voya Investment Management LLC grew its position 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 valued at $109,000 after buying an additional 5,046 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Tesco during the 2nd quarter valued at about $128,000. Tudor Investment Corp ET AL boosted its position in shares of Tesco by 180.1% during the 2nd quarter. Tudor Investment Corp ET AL now owns 29,332 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 18,861 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Tesco during the 3rd quarter valued at about $654,000. Finally, Citigroup Inc. boosted its position in shares of Tesco by 6.6% during the 2nd quarter. Citigroup Inc. now owns 38,854 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 2,404 shares in the last quarter. 87.10% of the stock is owned by institutional investors.
Several research analysts have issued reports on TESO shares. B. Riley reiterated a “buy” rating on shares of Tesco in a report on Wednesday, November 1st. Zacks Investment Research upgraded Tesco from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. Cowen set a $5.00 price objective on Tesco and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Goldman Sachs Group raised Tesco from a “neutral” rating to a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $6.00.
Shares of Tesco Co. (NASDAQ:TESO) opened at $3.70 on Monday. The company has a market capitalization of $173.00, a P/E ratio of -2.94 and a beta of 1.17. Tesco Co. has a 52-week low of $3.60 and a 52-week high of $9.65.
Tesco (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. Tesco had a negative return on equity of 16.27% and a negative net margin of 38.60%. The business had revenue of $40.50 million during the quarter, compared to analyst estimates of $43.24 million. During the same period in the prior year, the company earned ($0.37) earnings per share. Tesco’s revenue was up 33.2% compared to the same quarter last year. analysts predict that Tesco Co. will post -0.94 EPS for the current fiscal year.
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Tesco Company 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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