Alliancebernstein L.P. Has $249,000 Holdings in Tesco Corporation (TESO)

Alliancebernstein L.P. boosted its position in shares of Tesco Corporation (NASDAQ:TESO) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,010 shares of the oil and gas company’s stock after acquiring an additional 9,600 shares during the period. Alliancebernstein L.P. owned about 0.12% of Tesco Corporation worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royce & Associates LP grew its holdings in Tesco Corporation by 32.5% during the 2nd quarter. Royce & Associates LP now owns 877,196 shares of the oil and gas company’s stock worth $3,904,000 after acquiring an additional 215,400 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in Tesco Corporation during the 2nd quarter worth approximately $105,000. Tocqueville Asset Management L.P. acquired a new position in Tesco Corporation during the 2nd quarter worth approximately $2,193,000. Legal & General Group Plc grew its holdings in Tesco Corporation by 8.9% during the 2nd quarter. Legal & General Group Plc now owns 85,977 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 6,991 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Tesco Corporation by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 643,469 shares of the oil and gas company’s stock worth $2,864,000 after acquiring an additional 42,690 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Shares of Tesco Corporation (NASDAQ TESO) opened at $4.30 on Friday. Tesco Corporation has a 12-month low of $3.60 and a 12-month high of $9.65.

Tesco Corporation (NASDAQ:TESO) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $40.50 million during the quarter, compared to the consensus estimate of $43.24 million. Tesco Corporation had a negative net margin of 38.60% and a negative return on equity of 16.27%. The company’s revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) EPS. research analysts anticipate that Tesco Corporation will post -0.94 earnings per share for the current year.

Several research analysts have commented on the stock. Cowen and Company set a $5.00 price target on shares of Tesco Corporation and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Tesco Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. B. Riley restated a “buy” rating on shares of Tesco Corporation in a research report on Wednesday, November 1st. ValuEngine downgraded shares of Tesco Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, FBR & Co set a $7.00 price objective on shares of Tesco Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

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In other news, 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 transaction of $35,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 16,640 shares of company stock valued at $63,232 in the last 90 days. Insiders own 1.70% of the company’s stock.

Tesco Corporation 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.

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

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