Tesco Corporation (TESO) CEO Sells $35,313.40 in Stock
Tesco Corporation (NASDAQ:TESO) CEO Fernando Rafael Assing sold 9,293 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $3.80, for a total value of $35,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Tesco Corporation (NASDAQ:TESO) traded up $0.10 during midday trading on Friday, hitting $4.00. The company had a trading volume of 605,162 shares, compared to its average volume of 332,575.
Tesco Corporation (NASDAQ:TESO) last announced its quarterly earnings results on Tuesday, August 8th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $40.10 million during the quarter, compared to analysts’ expectations of $41.01 million. Tesco Corporation had a negative net margin of 47.72% and a negative return on equity of 18.21%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.39) EPS. analysts expect that Tesco Corporation will post -0.94 earnings per share for the current fiscal year.
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Several research analysts have issued reports on the company. Zacks Investment Research lowered Tesco Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Cowen and Company set a $5.00 target price on Tesco Corporation and gave the company a “hold” rating in a research report on Friday, October 6th. ValuEngine lowered Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. FBR & Co set a $7.00 target price on Tesco Corporation and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Tesco Corporation in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.00.
Large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. raised its stake in Tesco Corporation by 21.5% in the first quarter. OppenheimerFunds Inc. now owns 13,580 shares of the oil and gas company’s stock worth $109,000 after buying an additional 2,404 shares in the last quarter. Swiss National Bank raised its stake in 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 buying an additional 4,800 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Tesco Corporation by 13.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 494,506 shares of the oil and gas company’s stock worth $2,201,000 after buying an additional 59,809 shares in the last quarter. Royce & Associates LP raised its stake in Tesco Corporation 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 buying an additional 215,400 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in Tesco Corporation by 24.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 337,641 shares of the oil and gas company’s stock worth $1,503,000 after buying an additional 66,470 shares in the last quarter. 90.36% of the stock is owned by 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.
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