Tesco Corporation (NASDAQ:TESO) has been assigned a $5.00 target price by Cowen and Company in a note issued to investors on Friday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s target price would indicate a potential downside of 2.91% from the stock’s current price.

TESO has been the subject of a number of other research reports. Zacks Investment Research upgraded Tesco Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine downgraded Tesco Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. FBR & Co set a $7.00 price objective on Tesco Corporation and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Tesco Corporation in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Tesco Corporation presently has a consensus rating of “Hold” and an average target price of $6.00.

Shares of Tesco Corporation (TESO) traded down 5.50% during mid-day trading on Friday, hitting $5.15. 299,351 shares of the stock traded hands. The firm’s 50-day moving average is $4.86 and its 200-day moving average is $5.26. Tesco Corporation has a 52 week low of $3.70 and a 52 week high of $9.65. The stock’s market cap is $240.78 million.

Tesco Corporation (NASDAQ:TESO) last announced its earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $40.10 million for the quarter, compared to the consensus estimate of $41.01 million. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. Tesco Corporation’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) EPS. On average, analysts forecast that Tesco Corporation will post ($0.94) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TESO. Great West Life Assurance Co. Can grew its stake in shares of Tesco Corporation by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 61,673 shares of the oil and gas company’s stock worth $493,000 after acquiring an additional 4,420 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tesco Corporation by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 600,779 shares of the oil and gas company’s stock worth $4,837,000 after acquiring an additional 15,259 shares during the last quarter. Comerica Bank grew its stake in shares of Tesco Corporation by 4.8% in the first quarter. Comerica Bank now owns 51,436 shares of the oil and gas company’s stock worth $347,000 after acquiring an additional 2,357 shares during the last quarter. Swiss National Bank grew its stake in shares of Tesco Corporation by 6.7% in the first quarter. Swiss National Bank now owns 76,400 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Tesco Corporation in the first quarter worth $266,000. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

About Tesco Corporation

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.

Analyst Recommendations for Tesco Corporation (NASDAQ:TESO)

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