ARGA Investment Management LP Raises Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• ARGA Investment Management LP increased its stake in TotalEnergies by 139.6% in the first quarter, adding 691,864 shares to bring its total holding to 1,187,329 shares worth about $111.1 million.
• TotalEnergies reported better-than-expected quarterly results, posting EPS of $2.45 versus estimates of $2.22 and revenue of $49.52 billion versus expectations of $44.58 billion.
• Wall Street sentiment is mixed but still broadly positive, with a consensus rating of Moderate Buy and an average price target of $84.33, while recent analyst actions included both upgrades and downgrades.

ARGA Investment Management LP grew its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 139.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,187,329 shares of the company's stock after acquiring an additional 691,864 shares during the period. TotalEnergies accounts for approximately 3.6% of ARGA Investment Management LP's portfolio, making the stock its 9th largest holding. ARGA Investment Management LP's holdings in TotalEnergies were worth $111,053,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TTE. Aberdeen Group plc raised its stake in shares of TotalEnergies by 14.5% during the fourth quarter. Aberdeen Group plc now owns 384,040 shares of the company's stock worth $25,124,000 after acquiring an additional 48,640 shares in the last quarter. ABN AMRO Bank N.V. purchased a new stake in shares of TotalEnergies in the 4th quarter valued at $122,831,000. Assetmark Inc. boosted its stake in shares of TotalEnergies by 8.1% in the 4th quarter. Assetmark Inc. now owns 246,475 shares of the company's stock valued at $16,124,000 after purchasing an additional 18,480 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of TotalEnergies during the 4th quarter valued at $5,337,330,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in TotalEnergies in the 4th quarter worth $830,000. 16.53% of the stock is owned by institutional investors.

TotalEnergies Trading Up 0.3%

NYSE:TTE opened at $78.45 on Friday. The company has a fifty day moving average of $85.72 and a 200 day moving average of $80.96. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $188.09 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.70 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.23. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The business had revenue of $49.52 billion for the quarter, compared to analyst estimates of $44.58 billion. On average, research analysts predict that TotalEnergies SE Sponsored ADR will post 10.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TTE has been the subject of several recent research reports. Zacks Research downgraded shares of TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings upgraded TotalEnergies from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, May 1st. Scotiabank boosted their target price on TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Wall Street Zen cut TotalEnergies from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, TD Cowen restated a "buy" rating on shares of TotalEnergies in a research report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.33.

About TotalEnergies

TotalEnergies SE NYSE: TTE is a French multinational integrated energy company engaged across the full energy value chain. Founded in 1924 as Compagnie Française des Pétroles, the company grew through a series of mergers and expansions—most notably with Petrofina and Elf Aquitaine around the turn of the millennium—and rebranded to TotalEnergies in 2021 to reflect a broader focus on multiple energy sources. It is organized to operate across upstream and downstream activities while pursuing a transition toward lower-carbon energy solutions.

In upstream, TotalEnergies explores for and produces crude oil and natural gas globally.

Want to see what other hedge funds are holding TTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.