Tesco Co. (TESO) Given Average Rating of “Hold” by Analysts

Shares of Tesco Co. (NASDAQ:TESO) have been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.00.

A number of brokerages have commented on TESO. B. Riley reaffirmed a “hold” rating on shares of Tesco in a research note on Friday, December 22nd. Goldman Sachs Group raised shares of Tesco from a “neutral” rating to a “buy” rating in a research note on Monday, December 4th. Finally, Zacks Investment Research raised shares of Tesco from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th.

In other Tesco news, CEO Fernando Rafael Assing sold 7,146 shares of Tesco stock in a transaction dated 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 $689,837.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 23,993 shares of company stock worth $98,108 over the last ninety days. 1.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of Tesco by 9.8% during the second quarter. FMR LLC now owns 7,008,221 shares of the oil and gas company’s stock valued at $31,187,000 after acquiring an additional 624,404 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tesco by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,054,392 shares of the oil and gas company’s stock valued at $16,647,000 after acquiring an additional 61,353 shares during the last quarter. State Street Corp increased its position in shares of Tesco by 3.6% during the second quarter. State Street Corp now owns 1,061,705 shares of the oil and gas company’s stock valued at $4,723,000 after acquiring an additional 37,244 shares during the last quarter. Northern Trust Corp increased its position in shares of Tesco by 22.9% during the second quarter. Northern Trust Corp now owns 643,487 shares of the oil and gas company’s stock valued at $2,863,000 after acquiring an additional 119,830 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Tesco by 17.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 583,192 shares of the oil and gas company’s stock valued at $3,179,000 after acquiring an additional 88,686 shares during the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.

Tesco (NASDAQ:TESO) opened at $3.70 on Friday. Tesco has a 52 week low of $3.60 and a 52 week high of $9.65. The company has a market cap of $173.00, a PE ratio of -2.94 and a beta of 1.17.

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Tesco Company Profile

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 (NASDAQ:TESO)

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