15 Small-Cap Energy Stocks Hedge Funds Are Buying

Page 6 of 14

9. Tenaris (NYSE:TS)

Market Capitalization as of April 25: $18.56 billion

Number of Hedge Fund Holders: 33

Tenaris (NYSE:TS) manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific. It manufactures and markets welded and seamless steel pipes.

The company also offers oilfield services and coating solutions. In December 2024, ExxonMobil named Tenaris its 2024 Supplier of the Year and recognized its strong performance and reliability. Tenaris supplies OCTG solutions and Rig Direct services for ExxonMobil’s US operations and supports its drilling projects worldwide, which include deepwater exploration.

In Q42024, Tenaris (NYSE:TS) made sales of $2.8 billion, which was a 17% drop year-over-year and a 2% drop sequentially. This decline came from lower volumes and selling prices, although a favorable product mix offset some of the price declines in North America. By the end of 2024, the company recorded an EBITDA of $3.1 billion and a net income of $2.1 billion on total sales of $12.5 billion.

Page 6 of 14