Tenaris (TS)

• Market cap: $20.4B
• 1 day: 0.89%
• 5 days: -1.11%
• 1 month: -0.40%
• 3 months: 27.62%
• 6 months: 20.76%
• Year to date: 8.69%
• 1 year: 5.63%
• 5 years: 64.49%
• 10 years: 24.36%

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 US, 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 Q3 regulatory filings by fund managers ($100M+ AUM)

0% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 4 (+0) [Q3]

0.55% less ownership

Funds ownership: 4.9% [Q2] → 4.36% (-0.55%) [Q3]

4% less repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 72

8% less capital invested

Capital invested by funds: $1.75B [Q2] → $1.6B (-$144M) [Q3]

11% less funds holding

Funds holding: 220 [Q2] → 196 (-24) [Q3]

45% less first-time investments, than exits

New positions opened: 29 | Existing positions closed: 53

56% less call options, than puts

Call options by funds: $9.64M | Put options by funds: $21.7M

Research analyst outlook

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

• Low target: $36 4% downside
• Avg. target: $42 11% upside
• High target: $47 25% upside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

Jefferies Alan Spence 0% 1-year accuracy 0 / 1 met price target	25% upside $47	Buy Upgraded	9 Dec 2024
Stifel Stephen Gengaro 49% 1-year accuracy 41 / 83 met price target	4% downside $36	Buy Maintained	11 Oct 2024