Public Sector Pension Investment Board maintained its stake in Tesco Co. (NASDAQ:TESO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,801 shares of the oil and gas company’s stock at the end of the fourth quarter. Public Sector Pension Investment Board owned about 0.07% of Tesco worth $271,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Aperio Group LLC increased its stake in shares of Tesco by 8.2% in the third quarter. Aperio Group LLC now owns 25,158 shares of the oil and gas company’s stock worth $205,000 after buying an additional 1,896 shares during the period. Comerica Bank increased its stake in shares of Tesco by 5.3% in the fourth quarter. Comerica Bank now owns 49,079 shares of the oil and gas company’s stock worth $464,000 after buying an additional 2,477 shares during the period. California Public Employees Retirement System increased its stake in shares of Tesco by 4.7% in the third quarter. California Public Employees Retirement System now owns 137,300 shares of the oil and gas company’s stock worth $1,120,000 after buying an additional 6,200 shares during the period. TD Asset Management Inc. increased its stake in shares of Tesco by 64.3% in the third quarter. TD Asset Management Inc. now owns 25,300 shares of the oil and gas company’s stock worth $206,000 after buying an additional 9,900 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Tesco during the third quarter worth about $103,000. Institutional investors own 94.50% of the company’s stock.
Shares of Tesco Co. (NASDAQ:TESO) traded down 3.70% during midday trading on Friday, hitting $6.50. The stock had a trading volume of 252,602 shares. Tesco Co. has a 52-week low of $5.72 and a 52-week high of $9.77. The firm’s 50 day moving average price is $7.66 and its 200 day moving average price is $8.10. The firm’s market cap is $303.67 million.
Tesco (NASDAQ:TESO) last issued its earnings results on Tuesday, February 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.07. The company earned $35.30 million during the quarter, compared to analysts’ expectations of $30.99 million. Tesco had a negative net margin of 115.95% and a negative return on equity of 18.80%. The firm’s quarterly revenue was down 32.4% compared to the same quarter last year. During the same period last year, the company posted ($0.33) earnings per share. On average, equities research analysts expect that Tesco Co. will post ($0.97) earnings per share for the current year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Tesco from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Cowen and Company downgraded Tesco from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $9.00 in a research report on Thursday, January 19th. FBR & Co restated a “buy” rating and set a $9.00 price objective on shares of Tesco in a research report on Sunday, March 12th. Finally, Bank of America Corp initiated coverage on Tesco in a report on Thursday, December 22nd. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.17.
In other news, Director Fred J. Dyment sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $8.76, for a total value of $175,200.00. Following the sale, the director now directly owns 39,530 shares in the company, valued at $346,282.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.
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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