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Tenaris Has Risen 21% Year-to-Date: What’s the Reason?

Alex Chamberlin
Tenaris Has Risen 21% Year-to-Date: What’s the Reason?

Tenaris’s (TS) year-to-date returns as of May 11 were 21.4%. It has outperformed the price of crude oil, which has increased 17% since the beginning of the year. During that period, TS has outperformed the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and the VanEck Vectors Oil Services ETF (OIH). XOP, representing the oil and gas exploration and production segment in the energy industry, has increased 11% year-to-date. OIH, an ETF that tracks an index of 25 oilfield equipment and services companies, has risen 7.6% year-to-date. ...