A number of other equities analysts also recently commented on the company. Goldman Sachs Group upgraded Tesco from a neutral rating to a buy rating in a research note on Monday, December 4th. Zacks Investment Research upgraded Tesco from a sell rating to a hold rating in a research note on Thursday, November 30th. 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, ValuEngine downgraded Tesco from a sell rating to a strong sell rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Tesco presently has a consensus rating of Hold and a consensus target price of $6.00.
Shares of Tesco (TESO) traded down $0.25 during midday trading on Friday, hitting $3.70. The stock had a trading volume of 15,653,700 shares, compared to its average volume of 484,356. Tesco has a twelve month low of $3.60 and a twelve month high of $9.65. The stock has a market capitalization of $173.00, a price-to-earnings ratio of -2.94 and a beta of 1.17.
In other Tesco news, CEO Fernando Rafael Assing sold 9,293 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $3.80, for a total value of $35,313.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 40,633 shares of company stock worth $161,340. 1.70% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of TESO. FMR LLC boosted 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 worth $31,187,000 after purchasing an additional 624,404 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tesco by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,054,392 shares of the oil and gas company’s stock worth $16,647,000 after purchasing an additional 61,353 shares in the last quarter. State Street Corp boosted 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 worth $4,723,000 after purchasing an additional 37,244 shares in the last quarter. Royce & Associates LP boosted its holdings in Tesco by 32.5% in the second quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock worth $3,904,000 after purchasing an additional 215,400 shares in the last quarter. Finally, Northern Trust Corp boosted 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 worth $2,863,000 after purchasing an additional 119,830 shares in the last quarter. Institutional investors and hedge funds own 87.10% 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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