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TESO $3.7

TESO target price
3.70
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0
Tesco Corporation
Type
Public
Traded as NASDAQ: TESO
S&P 600 Component
Industry Oilfield Services
Founded 1993, Calgary, Alberta, Canada
Founder Robert Tessari
Headquarters Houston, Texas, United States
Area served
Global
Key people
Fernando R. Assing, President & CEO
Revenue Increase US$513.0 million (2011)
Number of employees
2,000
Website www.tescocorp.com

Tesco Corporation (Tesco) is an oilfield services company specializing in the design, manufacture and service of technology-based solutions for the upstream energy industry. Its headquarters are located in the Spring Branch district of Houston, Texas, United States.

On August 14, 2017, it was announced that Nabors Industries agreed to acquire Tesco Corporation in an all-stock transaction.

Tesco was created in December 1993 when Shelter Oil and Gas Ltd., Coexco Petroleum Inc., and Forewest Industries Ltd. merged as Tesco Corporation, originally Tesco Drilling Technology, a joint venture between the three. Tesco originally became famous for inventing the first portable land top drive, which won a Special Meritorious Award for Engineering at the 1994 OTC show. Since then, Tesco has branched out into casing running as well, including a casing running tool called the Casing Drive System, or CDS. In 2006, the company moved their headquarters from Calgary, AB to Houston, TX, while continuing to manufacture in Calgary.

On 30 April 2012, Tesco and Schlumberger announced a deal in which Tesco's CASING DRILLING™ division would be sold to Schlumberger for $45 million in cash.

Tesco provides top drive rental services on a day-rate basis for land and offshore drilling rigs and after-market sales and service for its customers. Tesco’s top drive rental fleet comprised 132 units on December 31, 2011. In order of size by region from highest to lowest, Tesco currently has rental units in Latin America, the United States and Canada, Russia, Asia-Pacific, Europe, and the Middle East. In response to the economic downturn and operating conditions during 2009, Tesco redeployed over 10% of Tesco’s U.S. fleet to international locations, including the Middle East, Latin America, Russia and Asia. Tesco's major competitors in the top drive market include National Oilwell Varco, Canrig, a subsidiary of Nabors, and FDS.

Similarly, Tesco provides conventional and proprietary casing running services. The company operates both conventional equipment and a proprietary casing running tool, the Casing Drive System, for rigs equipped with top drives. These technologies were originally developed for CASING DRILLING™, but were discovered to be useful on their own. In addition, several other accessories packages are available. Other companies operating in the same sector include National Oilwell Varco, Franks International, Canrig, and Weatherford International.

List of oilfield service companies

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2016-03-03 Reiterated Rating FBR & Co. Outperform $13.00 to $11.00
2016-03-03 Reiterated Rating FBR & Co Outperform $13.00 to $11.00
2016-03-02 Lower Price Target Iberia Capital Sector Perform $9.00 to $8.00
2015-12-01 Upgrade Guggenheim Neutral to Buy
2015-11-05 Lower Price Target FBR & Co. Outperform $16.00 to $13.00
2015-10-15 Lower Price Target Cowen and Company Outperform $14.00 to $10.00
2015-08-07 Upgrade Guggenheim Neutral to Buy $14.00
2015-06-19 Initiated Coverage Sidoti Buy $17.00
2015-04-02 Downgrade Global Hunter Securities Accumulate to Neutral
2015-04-02 Downgrade Seaport Global Securities Accumulate to Neutral
2015-02-09 Downgrade Capital One Financial Corp. Overweight to Equal Weight
2014-12-23 Downgrade Iberia Capital Outperform to Sector Perform
2014-12-16 Lower Price Target FBR & Co. Outperform $23.00 to $16.00
2014-12-01 Downgrade Guggenheim Buy to Neutral $23.00 to $16.00
2014-10-17 Upgrade Cowen and Company Market Perform to Outperform $24.00 to $22.00
2014-10-14 Lower Price Target FBR & Co. Outperform $28.00 to $23.00
2014-09-22 Initiated Coverage Guggenheim Buy
2014-09-16 Initiated Coverage KeyBanc Buy $25.00
2014-09-16 Initiated Coverage KeyCorp Buy $25.00
2014-08-28 Downgrade Deutsche Bank Buy to Hold
2014-08-28 Downgrade Deutsche Bank AG Buy to Hold
2014-08-06 Lower Price Target Global Hunter Securities $22.00 to $1.00
2014-08-06 Lower Price Target Seaport Global Securities $22.00 to $1.00
2014-05-13 Boost Price Target Cowen and Company $20.00 to $24.00
2014-05-06 Reiterated Rating FBR & Co. Outperform $27.00 to $28.00
2014-03-14 Upgrade Capital One Financial Corp. Equal Weight to Overweight
2014-02-25 Boost Price Target FBR & Co. Outperform $22.00 to $27.00
2013-12-20 Initiated Coverage Iberia Capital Outperform
2013-12-06 Initiated Coverage FBR & Co. Outperform
2013-11-13 Downgrade HSBC Overweight to Neutral
2013-11-07 Initiated Coverage Stephens Equal Weight
2013-11-05 Boost Price Target Global Hunter Securities Hold $18.00 to $21.00
2013-11-05 Boost Price Target Cowen and Company Market Perform $18.00 to $20.00
2013-10-21 Downgrade Capital One Financial Corp. Add to Neutral
2013-10-09 Reiterated Rating Cowen and Company Market Perform
2013-01-08 Downgrade Dahlman Rose Buy to Hold
2012-10-11 Reiterated FBR Capital Mkt Perform $12 to $10
2011-11-08 Reiterated Dahlman Rose Buy $20 to $18
2011-10-20 Initiated Global Hunter Securities Accumulate $19
2011-07-20 Initiated Dahlman Rose Buy $26
2011-05-09 Reiterated FBR Capital Outperform $22 to $25
2011-03-02 Reiterated FBR Capital Outperform $17 to $22
2010-02-01 Upgrade Wunderlich Sell to Hold $8 to $13
2010-01-20 Upgrade FBR Capital Mkt Perform to Outperform $10 to $18
2009-11-05 Downgrade Wunderlich Hold to Sell $10 to $8
2009-08-07 Downgrade Wunderlich Buy to Hold $15 to $10
2016-03-03 Reiterated Rating FBR & Co. Outperform $13.00 to $11.00
2016-03-03 Reiterated Rating FBR & Co Outperform $13.00 to $11.00
2016-03-02 Lower Price Target Iberia Capital Sector Perform $9.00 to $8.00
2015-12-01 Upgrade Guggenheim Neutral to Buy
2015-11-05 Lower Price Target FBR & Co. Outperform $16.00 to $13.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
LRP V Luxembourg Holdings S.a r.l. 8.09%  (3241617) TESO /
Quintana Julio M President and CEO 0.59%  (236581) BAS / NEM / SM / TESO /
Kayl Robert L Senior V.P. & CFO 0.21%  (82207) TESO /
Foster Jeffrey L Sr. V.P., Top Drives 0.14%  (56752) TESO /
Robertson Norman W 0.12%  (47498) TESO /
Dyment Fred J 0.10%  (39267) TESO /
KOTT GARY L 0.09%  (36935) TESO /
Ferris Mihial Dean SVP, Gen Counsel & Corp Sec 0.06%  (23355) TESO /
REYNOLDS JOHN T 0.03%  (13398) LRE / TESO /
Sloan Thomas B JR Vice President 0.02%  (9907) NE / TESO /
Ulakovic Darko Vice President 0.01%  (5933) TESO /
Irausquin Michael Vice President, TCUS 0.01%  (3416) TESO /