TESCO: CEO SELLS
TESCO CORP. CEO Julio M. Quintana sold 12,252 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $17.00, for a total value of $208,284.00. Following the completion of the sale, the chief executive officer now directly owns 216,031 shares of the company's stock, valued at approximately $3,672,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of Tesco Corp. from $22.00 to $27.00 in a research note on Tuesday, February 25th. They now have an "outperform" rating on the stock. Separately, analysts at Zacks downgraded shares of Tesco Corp. from an "outperform" rating to a "neutral" rating in a research note on Wednesday, January 8th. They now have a $21.30 price target on the stock. Finally, analysts at Iberia Capital initiated coverage on shares of Tesco Corp. in a research note on Friday, December 20th. They set an "outperform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of "Hold" and an average price target of $238.57.
Tesco Corp. (NASDAQ:TESO) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.16.
Tesco Corporation (NASDAQ:TESO) is engaged in designing, manufacturing, and service delivery of technology based solutions for the upstream energy industry.
TESCO CORPORATION 4th Quarter and Full Year 2013 results.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.