Wells Fargo & Company MN cut its holdings in Tesco Co. (NASDAQ:TESO) by 70.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,820 shares of the oil and gas company’s stock after selling 82,166 shares during the quarter. Wells Fargo & Company MN owned 0.07% of Tesco worth $184,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TESO. FMR LLC increased its position in shares of Tesco by 9.8% in 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 buying an additional 624,404 shares in the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Tesco in the third quarter valued at approximately $2,976,000. Dimensional Fund Advisors LP increased its position in shares of Tesco by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,993,039 shares of the oil and gas company’s stock valued at $13,319,000 after buying an additional 263,160 shares in the last quarter. Kassirer Asset Management Corp purchased a new stake in shares of Tesco in the third quarter valued at approximately $912,000. Finally, Northern Trust Corp increased its position in shares of Tesco by 22.9% in 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 buying an additional 119,830 shares in the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.
Shares of Tesco Co. (TESO) opened at $3.70 on Friday. Tesco Co. has a 12-month low of $3.60 and a 12-month high of $9.65. The company has a market capitalization of $173.00, a P/E ratio of -2.94 and a beta of 1.17.
A number of research firms have recently commented on TESO. Goldman Sachs Group upgraded Tesco from a “neutral” rating to a “buy” rating in a research report on Monday, December 4th. B. Riley restated a “buy” rating on shares of Tesco in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut Tesco from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Tesco presently has a consensus rating of “Hold” and a consensus price target of $6.00.
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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