Tesco Co. (TESO) Position Cut by Nationwide Fund Advisors

Nationwide Fund Advisors lowered its holdings in shares of Tesco Co. (NASDAQ:TESO) by 62.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,678 shares of the oil and gas company’s stock after selling 64,681 shares during the quarter. Nationwide Fund Advisors owned 0.08% of Tesco worth $211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Tesco by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 93,642 shares of the oil and gas company’s stock valued at $417,000 after acquiring an additional 1,435 shares during the period. Citigroup Inc. lifted its holdings in shares of Tesco by 6.6% in the 2nd quarter. Citigroup Inc. now owns 38,854 shares of the oil and gas company’s stock worth $172,000 after buying an additional 2,404 shares during the period. Aperio Group LLC lifted its holdings in shares of Tesco by 7.4% in the 2nd quarter. Aperio Group LLC now owns 35,442 shares of the oil and gas company’s stock worth $158,000 after buying an additional 2,455 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Tesco by 25.9% in the 2nd quarter. Voya Investment Management LLC now owns 24,546 shares of the oil and gas company’s stock worth $109,000 after buying an additional 5,046 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Tesco by 8.9% in the 2nd quarter. Legal & General Group Plc now owns 85,977 shares of the oil and gas company’s stock worth $382,000 after buying an additional 6,991 shares during the period. Institutional investors own 87.10% of the company’s stock.

Shares of Tesco Co. (NASDAQ TESO) opened at $3.70 on Friday. Tesco Co. has a 1-year low of $3.60 and a 1-year high of $9.65. The firm has a market capitalization of $173.00, a price-to-earnings ratio of -2.94 and a beta of 1.17.

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

TESO has been the subject of several research reports. Zacks Investment Research upgraded Tesco from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Goldman Sachs Group upgraded Tesco from a “neutral” rating to a “buy” rating in a report on Monday, December 4th. B. Riley reiterated a “hold” rating on shares of Tesco in a report on Friday, December 22nd. Finally, Cowen set a $5.00 target price on Tesco and gave the stock a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $6.00.

In related news, CEO Fernando Rafael Assing sold 7,146 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was 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 approximately $689,837.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 40,633 shares of company stock valued at $161,340 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

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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.

Institutional Ownership by Quarter for Tesco (NASDAQ:TESO)

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