Tenaris S.A., together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories. It also provides sucker rods, industrial equipment, heat exchangers, and utility conduits for buildings, as well as sells energy and raw materials. In addition, it offers financial services. The company operates in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Tenaris S.A. was incorporated in 2001 and is based in Luxembourg, Luxembourg. Tenaris S.A. is a subsidiary of Techint Holdings S.à r.l.
Analyst Ratings Changes
Several equities analysts recently weighed in on TS shares. Morgan Stanley cut their target price on shares of Tenaris from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 13th. Piper Sandler lifted their price objective on shares of Tenaris from $52.00 to $60.00 in a research note on Friday, April 29th. Barclays lifted their price objective on shares of Tenaris from $32.00 to $42.00 in a research note on Monday, May 9th. Finally, Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $35.70 to $46.00 in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tenaris has a consensus rating of "Moderate Buy" and an average target price of $32.64.
Tenaris Price Performance
Shares of TS Stock traded up $0.12 during trading hours on Friday, reaching $25.53. 2,259,260 shares of the stock were exchanged, compared to its average volume of 2,342,384. Tenaris has a 12-month low of $18.80 and a 12-month high of $34.76. The company's 50-day moving average price is $27.72 and its 200-day moving average price is $28.44.
Tenaris Announces Dividend
The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 24th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 23rd. Tenaris's dividend payout ratio (DPR) is 35.90%.