Teachers Advisors LLC cut its stake in shares of Tesco Corporation (NASDAQ:TESO) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 533,935 shares of the oil and gas company’s stock after selling 8,308 shares during the period. Teachers Advisors LLC’s holdings in Tesco Corporation were worth $4,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Tesco Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 300 shares during the period. Prudential Financial Inc. increased its position in shares of Tesco Corporation by 0.4% in the first quarter. Prudential Financial Inc. now owns 78,492 shares of the oil and gas company’s stock valued at $632,000 after buying an additional 330 shares during the period. Arizona State Retirement System increased its position in shares of Tesco Corporation by 2.1% in the first quarter. Arizona State Retirement System now owns 24,370 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 500 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of Tesco Corporation by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 271,171 shares of the oil and gas company’s stock valued at $2,183,000 after buying an additional 1,038 shares during the period. Finally, TD Asset Management Inc. increased its position in shares of Tesco Corporation by 4.6% in the first quarter. TD Asset Management Inc. now owns 29,400 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 1,300 shares during the period. Institutional investors own 95.66% of the company’s stock.

Shares of Tesco Corporation (NASDAQ TESO) opened at 4.40 on Monday. The firm’s market capitalization is $205.57 million. The stock’s 50 day moving average price is $4.32 and its 200-day moving average price is $6.45. Tesco Corporation has a 12-month low of $3.70 and a 12-month high of $9.65.

Tesco Corporation (NASDAQ:TESO) last issued its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.29). The company had revenue of $36.70 million during the quarter, compared to analyst estimates of $35.65 million. Tesco Corporation had a negative net margin of 55.00% and a negative return on equity of 18.65%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) EPS. On average, equities analysts expect that Tesco Corporation will post ($0.92) EPS for the current year.

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Several brokerages have weighed in on TESO. Zacks Investment Research downgraded Tesco Corporation from a “buy” rating to a “hold” rating in a report on Saturday, May 13th. Cowen and Company cut their price target on Tesco Corporation from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, June 5th. Finally, Seaport Global Securities cut their price target on Tesco Corporation from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.00.

Tesco Corporation 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.

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Institutional Ownership by Quarter for Tesco Corporation (NASDAQ:TESO)

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