TESCO CORP. Capital One Financial Corp. upgraded shares of Tesco Corp. (NASDAQ:TESO) from an equal weight rating to an overweight rating in a research report sent to investors on Friday morning.
Other equities research analysts have also recently issued reports about 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $238.57.
Shares of Tesco Corp. (NASDAQ:TESO) traded up 0.17% during mid-day trading on Friday, hitting $17.28. 150,409 shares of the company's stock traded hands. Tesco Corp. has a 52-week low of $11.05 and a 52-week high of $21.55. The stock's 50-day moving average is $19.88 and its 200-day moving average is $18.43. The company has a market cap of $685.8 million and a price-to-earnings ratio of 18.96.
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. On average, analysts predict that Tesco Corp. will post $1.24 earnings per share for the current fiscal year.
In other Tesco Corp. news, CEO Julio Quintana unloaded 12,252 shares of the company's stock on the open market in a transaction dated Thursday, March 13th. The shares were sold at an average price of $17.00, for a total transaction of $208,284.00. Following the sale, the chief executive officer now directly owns 216,031 shares in the company, valued at approximately $3,672,527.
TESCO CORPORATION 4th Quarter and Full Year 2013 results.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.