|Over a week ago|
Scotiabank expands U.S. Oilfield Services coverage with three initiations » 08:4309/1609/16/20
WHD, CHX, TS, CESDF
Scotiabank analyst Vaibhav Vaishnav last night initiated coverage of Cactus WHD) at Sector Perform, ChampionX (CHX) and Tenaris (TS) at Outperform, and resumed coverage of CES Energy Solutions (CESDF) at Outperform. ChampionX and CES have "relatively stable" businesses from exposure to production chemicals and strong free cash flow conversion, Vaishnav writes in a research note. Senior management at both Cactus and Tenaris have high ownership and aligned objectives with shareholders, which drive high margins and cash flow, adds the analyst. However, Cactus's "differentiated qualities" are already reflected in the current price, says Vaishnav.
Tenaris initiated with an Outperform at Scotiabank » 16:0909/1509/15/20
Scotiabank analyst Vaibhav Vaishnav initiated coverage of Tenaris with an Outperform rating and $16 price target.
|Over a month ago|
Tenaris downgraded to Underweight from Equal Weight at Barclays » 06:1308/1008/10/20
Barclays analyst J. David…
Barclays analyst J. David Anderson downgraded Tenaris to Underweight from Equal Weight with a price target of $10, down from $15. While Anderson continues to view Tenaris as well positioned in the recovery, the significant overhang of U.S. OCTG inventory could take 12 months to work down and its "going to get worse before it gets better," the analyst tells investors.
Tenaris reports Q2 earnings per ADS (8c), consensus (5c) » 18:0508/0508/05/20
Reports Q2 revenue…
Reports Q2 revenue $1.24B, consensus $1.16B.
|Over a quarter ago|
Tenaris upgraded to Buy from Sell at Goldman Sachs » 05:1506/2206/22/20
Goldman Sachs analyst…
Goldman Sachs analyst Sahar Islam double upgraded Tenaris to Buy from Sell with a price target of $17, up from $11.90. The analyst believes the trough in the U.S. onshore rig count is nearing and expects the downturn to result in "better" shale, with lower but more sustainable growth. Tenaris and Hunting are Islam's most shale exposed names within the European coverage.
Tenaris price target lowered to EUR 13.50 from EUR 22 at UBS » 13:4505/2605/26/20
UBS analyst Amy Wong…
UBS analyst Amy Wong lowered the firm's price target on Tenaris to EUR 13.50 from EUR 22 and keeps a Neutral rating on the shares.
Tenaris price target raised to $15 from $13 at Barclays » 14:1605/0405/04/20
Barclays analyst J. David…
Barclays analyst J. David Anderson raised the firm's price target on Tenaris to $15 from $13 and keeps an Equal Weight rating on the shares.
Tenaris downgraded to Hold from Buy at Jefferies » 06:2605/0405/04/20
Jefferies analyst Alan…
Jefferies analyst Alan Spence downgraded Tenaris to Hold from Buy with a price target of $14.72, down from $16.68, citing both the 57% rebound in the share price from its mid-March lows and the "bleak near-term outlook for a material demand pickup." Its acquisition of IPSCO in early January is a strategic move that should pay off in the long-term, but the timing was unfortunate in the near-term as it increases Tenaris' exposure to a weaker U.S. market, Spence added.
Tenaris reports Q1 EPS (56c), may not compare to consensus 21c » 16:5304/2904/29/20
Reports Q revenue $1.76B,…
Reports Q revenue $1.76B, consensus $.1.79B. The rapid decline in economic activity and unprecedented collapse in global oil demand as a result of the measures taken to contain the spread of the COVID-19 pandemic around the world has resulted in an equally unprecedented collapse in oil prices, due to the imbalance between production, storage capacity and demand. At this moment, it is not possible to determine how long it will take for economic activity and oil and gas demand to recover and for supply and demand to rebalance. In this environment, investments in exploration and production of oil and gas are being severely curtailed and are not expected to recover in the short term.
Tenaris downgraded to Hold from Buy at Kepler Cheuvreux » 05:3104/2004/20/20
Kepler Cheuvreux analyst…
Kepler Cheuvreux analyst Kevin Roger downgraded Tenaris to Hold from Buy with a EUR 7 price target.