Tesco Co. (TESO) Position Increased by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in Tesco Co. (NASDAQ:TESO) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,351 shares of the oil and gas company’s stock after purchasing an additional 32,851 shares during the period. California Public Employees Retirement System’s holdings in Tesco were worth $721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in Tesco by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 93,642 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 1,435 shares in the last quarter. Citigroup Inc. boosted its stake in Tesco by 6.6% in the 2nd quarter. Citigroup Inc. now owns 38,854 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 2,404 shares in the last quarter. Voya Investment Management LLC boosted its stake in 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 worth $109,000 after purchasing an additional 5,046 shares in the last quarter. Legal & General Group Plc boosted its stake in Tesco by 8.9% in the 2nd quarter. Legal & General Group Plc now owns 85,977 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 6,991 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Tesco by 20.7% in the 2nd quarter. Alliancebernstein L.P. now owns 56,010 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 9,600 shares in the last quarter. Institutional investors own 87.10% of the company’s stock.

Shares of Tesco Co. (NASDAQ:TESO) opened at $3.70 on Friday. Tesco Co. has a 12 month low of $3.60 and a 12 month high of $9.65. The company has a market cap of $173.00, a P/E ratio of -2.94 and a beta of 1.17.

Tesco (NASDAQ:TESO) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. Tesco had a negative net margin of 38.60% and a negative return on equity of 16.27%. The business had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $43.24 million. During the same period in the previous year, the business posted ($0.37) EPS. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. research analysts forecast that Tesco Co. will post -0.94 EPS for the current year.

In other Tesco news, CEO Fernando Rafael Assing sold 7,146 shares of Tesco stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $4.20, for a total transaction of $30,013.20. Following the completion of the sale, the chief executive officer now directly owns 164,247 shares in the company, valued at approximately $689,837.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 40,633 shares of company stock valued at $161,340. Company insiders own 1.70% of the company’s stock.

TESO has been the subject of a number of recent analyst reports. B. Riley reiterated a “buy” rating on shares of Tesco in a research note on Wednesday, November 1st. Goldman Sachs Group upgraded shares of Tesco from a “neutral” rating to a “buy” rating in a research note on Monday, December 4th. Cowen set a $5.00 target price on shares of Tesco and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Tesco has a consensus rating of “Hold” and a consensus price target of $6.00.

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About Tesco

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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Institutional Ownership by Quarter for Tesco (NASDAQ:TESO)

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