Christopher L. Boone Sells 3,445 Shares of Tesco Corporation (TESO) Stock
Tesco Corporation (NASDAQ:TESO) CFO Christopher L. Boone sold 3,445 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total transaction of $13,091.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Tesco Corporation (NASDAQ TESO) traded up $0.10 during trading on Friday, reaching $4.00. 605,162 shares of the company traded hands, compared to its average volume of 332,575.
Tesco Corporation (NASDAQ:TESO) last released its quarterly earnings data on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $40.10 million for the quarter, compared to the consensus estimate of $41.01 million. Tesco Corporation had a negative return on equity of 18.21% and a negative net margin of 47.72%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.39) EPS. equities analysts anticipate that Tesco Corporation will post -0.94 earnings per share for the current year.
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Several brokerages have recently issued reports on TESO. Cowen and Company set a $5.00 target price on shares of Tesco Corporation and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of Tesco Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine lowered shares of Tesco Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. FBR & Co set a $7.00 target price on shares of Tesco Corporation and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Tesco Corporation in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.00.
A number of hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund raised its holdings in Tesco Corporation by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 34,112 shares of the oil and gas company’s stock worth $152,000 after buying an additional 286 shares during the period. Prudential Financial Inc. raised its holdings in Tesco Corporation by 0.4% during the 1st quarter. Prudential Financial Inc. now owns 78,492 shares of the oil and gas company’s stock worth $632,000 after buying an additional 330 shares during the period. Arizona State Retirement System raised its holdings in Tesco Corporation by 2.1% during the 1st quarter. Arizona State Retirement System now owns 24,370 shares of the oil and gas company’s stock worth $196,000 after buying an additional 500 shares during the period. Rhumbline Advisers raised its holdings in Tesco Corporation by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 93,642 shares of the oil and gas company’s stock worth $417,000 after buying an additional 1,435 shares during the period. Finally, Legal & General Group Plc raised its holdings in Tesco Corporation by 2.6% during the 1st quarter. Legal & General Group Plc now owns 78,986 shares of the oil and gas company’s stock worth $636,000 after buying an additional 1,976 shares during the period. Hedge funds and other institutional investors own 90.36% of the company’s stock.
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.
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