Sourcerock Group LLC Sells 72,878 Shares of Tenaris S.A. (NYSE:TS)

Sourcerock Group LLC reduced its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,093,622 shares of the industrial products company's stock after selling 72,878 shares during the period. Tenaris comprises about 5.7% of Sourcerock Group LLC's investment portfolio, making the stock its 6th biggest position. Sourcerock Group LLC owned 0.36% of Tenaris worth $79,118,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in Tenaris by 30,000.0% during the third quarter. Barclays PLC now owns 6,020 shares of the industrial products company's stock worth $192,000 after acquiring an additional 6,000 shares in the last quarter. J2 Capital Management Inc acquired a new position in Tenaris during the fourth quarter worth $513,000. Ballentine Partners LLC raised its stake in Tenaris by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock worth $337,000 after acquiring an additional 516 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Tenaris by 61.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company's stock worth $1,327,000 after acquiring an additional 13,374 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in Tenaris by 9.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,189 shares of the industrial products company's stock worth $801,000 after acquiring an additional 1,869 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Performance

TS traded up $0.20 during midday trading on Friday, hitting $32.59. The company had a trading volume of 988,429 shares, compared to its average volume of 1,756,914. The company has a market capitalization of $18.94 billion, a PE ratio of 9.03 and a beta of 1.27. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The firm's 50-day simple moving average is $34.57 and its 200-day simple moving average is $36.81.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.14. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company's quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. As a group, sell-side analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on TS shares. Bank of America lowered Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Morgan Stanley decreased their price target on Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. BNP Paribas started coverage on Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Finally, Piper Sandler raised their target price on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of "Hold" and a consensus price target of $44.00.

Tenaris 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.