Viking Fund Management LLC Sells 35,000 Shares of Tenaris S.A. (NYSE:TS)

Viking Fund Management LLC reduced its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 36.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,000 shares of the industrial products company's stock after selling 35,000 shares during the quarter. Viking Fund Management LLC's holdings in Tenaris were worth $2,267,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Versant Capital Management Inc bought a new stake in shares of Tenaris in the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Covestor Ltd acquired a new stake in Tenaris in the 3rd quarter valued at $40,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 377 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and raised their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Piper Sandler assumed coverage on Tenaris in a research report on Thursday, December 19th. They issued an "overweight" rating and a $48.00 price target for the company. Finally, Stifel Nicolaus reduced their target price on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tenaris presently has an average rating of "Moderate Buy" and a consensus price target of $42.75.

Tenaris Price Performance

Shares of Tenaris stock traded down $0.50 during trading hours on Wednesday, hitting $38.72. 1,166,424 shares of the company's stock traded hands, compared to its average volume of 1,210,848. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 8.43 and a beta of 1.45. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The company has a fifty day simple moving average of $38.04 and a 200-day simple moving average of $33.31.

Tenaris Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were given a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris's dividend payout ratio is 23.53%.

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.