Tenaris (TS)

• Market cap: $21.6B
• 1 day: -0.42%
• 5 days: -3.57%
• 1 month: -2.44%
• 3 months: -0.19%
• 6 months: 31.01%
• Year to date: 0.08%
• 1 year: 4.10%
• 5 years: 96.34%
• 10 years: 30.83%

About: Tenaris is one of the largest global producers of oil country tubular goods, which are used primarily in the construction of oil and gas wells. Its production facilities are located primarily in the U.S., Argentina, Mexico, and Italy. Tenaris' premium OCTG products are among the most trusted by oil companies for use in the most challenging applications, including deep-water offshore wells and horizontal shale wells.

Employees: 29,134

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

142% more first-time investments, than exits

New positions opened: 58 | Existing positions closed: 24

16% more funds holding

Funds holding: 197 [Q3] → 229 (+32) [Q4]

0% less capital invested

Capital invested by funds: $1.61B [Q3] → $1.6B (-$4.62M) [Q4]

0.69% less ownership

Funds ownership: 4.36% [Q3] → 3.67% (-0.69%) [Q4]

18% less repeat investments, than reductions

Existing positions increased: 62 | Existing positions reduced: 76

25% less funds holding in top 10

Funds holding in top 10: 4 [Q3] → 3 (-1) [Q4]

65% less call options, than puts

Call options by funds: $7.27M | Put options by funds: $21M

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $43 14% upside
• Avg. target: $47 24% upside
• High target: $50 33% upside

3 analyst ratings

• positive: 3 100%
• neutral: 0 0%
• negative: 0 0%

Barclays David Anderson 44% 1-year accuracy 36 / 81 met price target	33% upside $50	Overweight Maintained	24 Feb 2025
Stifel Stephen Gengaro 50% 1-year accuracy 46 / 92 met price target	14% upside $43	Buy Maintained	21 Feb 2025
Jefferies Alan Spence 0% 1-year accuracy 0 / 1 met price target	25% upside $47	Buy Upgraded	9 Dec 2024