Assenagon Asset Management S.A. Reduces Stock Position in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Assenagon Asset Management cut its TotalEnergies stake by 57% in the second quarter, selling 110,168 shares and retaining 83,197 shares valued at approximately $6.47 million.
• TotalEnergies reported quarterly EPS of $2.68 on $57.10 billion in revenue, with a 15.66% return on equity and an 8.29% net margin. The stock opened at $88.04 and has traded between $57.39 and $94.17 over the past year.
• Analyst sentiment remains favorable, with an overall “Moderate Buy” consensus from 19 analysts and an average price target of $87.14; TD Cowen recently raised its target to $105 and maintained a buy rating.

Assenagon Asset Management S.A. lowered its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 57.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,197 shares of the company's stock after selling 110,168 shares during the period. Assenagon Asset Management S.A.'s holdings in TotalEnergies were worth $6,471,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in TotalEnergies by 151.0% during the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company's stock valued at $4,364,000 after buying an additional 40,586 shares during the period. Empowered Funds LLC lifted its holdings in shares of TotalEnergies by 2.1% in the 1st quarter. Empowered Funds LLC now owns 40,988 shares of the company's stock worth $2,652,000 after acquiring an additional 835 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of TotalEnergies by 17.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company's stock valued at $315,000 after purchasing an additional 774 shares during the last quarter. Russell Investments Group Ltd. raised its position in TotalEnergies by 14.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company's stock worth $1,490,000 after purchasing an additional 3,151 shares during the period. Finally, Invesco Ltd. raised its position in TotalEnergies by 7.3% in the 2nd quarter. Invesco Ltd. now owns 198,215 shares of the company's stock worth $12,168,000 after purchasing an additional 13,536 shares during the period. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Performance

TTE stock opened at $88.04 on Wednesday. The stock has a market capitalization of $211.10 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 3.10 and a beta of 0.14. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17. The stock's 50 day simple moving average is $83.03 and its 200 day simple moving average is $84.02.

TotalEnergies (NYSE:TTE - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 EPS for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%.The company had revenue of $57.10 billion during the quarter. As a group, research analysts forecast that TotalEnergies SE Sponsored ADR will post 10.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTE shares. TD Cowen upped their price target on shares of TotalEnergies from $102.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Weiss Ratings raised shares of TotalEnergies from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Zacks Research cut TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. CICC Research started coverage on shares of TotalEnergies in a research report on Tuesday, June 23rd. They set an "outperform" rating on the stock. Finally, BNP Paribas Exane upgraded TotalEnergies from a "neutral" rating to an "outperform" rating in a report on Friday, April 17th. Eleven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $87.14.

TotalEnergies Company Profile

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.

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