Tenaris S.A. (NYSE:TS) Stock Holdings Cut by Sourcerock Group LLC

Sourcerock Group LLC trimmed its stake in Tenaris S.A. (NYSE:TS - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,093,622 shares of the industrial products company's stock after selling 72,878 shares during the period. Tenaris accounts for 5.7% of Sourcerock Group LLC's portfolio, making the stock its 6th largest position. Sourcerock Group LLC owned 0.36% of Tenaris worth $79,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Exencial Wealth Advisors LLC increased its position in Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock valued at $1,905,000 after buying an additional 270 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Tenaris by 0.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company's stock valued at $3,696,000 after buying an additional 386 shares in the last quarter. Signaturefd LLC increased its position in Tenaris by 2.3% during the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after buying an additional 418 shares in the last quarter. Covestor Ltd increased its position in Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after buying an additional 469 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after buying an additional 478 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on TS. Stifel Nicolaus reduced their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Barclays set a $48.00 target price on Tenaris and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Bank of America lowered Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Piper Sandler increased their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Finally, BNP Paribas assumed coverage on Tenaris in a report on Tuesday, April 22nd. They issued an "outperform" rating on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $44.00.

Tenaris Trading Down 1.2%

Shares of TS stock traded down $0.42 during mid-day trading on Wednesday, reaching $32.90. The stock had a trading volume of 959,832 shares, compared to its average volume of 1,763,632. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 9.11 and a beta of 1.27. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The business's fifty day moving average is $34.83 and its 200-day moving average is $36.82.

Tenaris (NYSE:TS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.80 by $0.14. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Tenaris's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. On average, analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio (DPR) is 68.29%.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.