Cullen Capital Management LLC Invests $55.91 Million in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Cullen Capital Management established a new $55.91 million position in TotalEnergies, acquiring 718,986 shares during the second quarter. Institutional investors collectively own 16.53% of the company.
• TotalEnergies reported quarterly earnings of $2.68 per share on $57.10 billion in revenue, with a 15.66% return on equity and an 8.29% net margin.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating; TD Cowen and Mizuho set price targets of $105 and $103, respectively, while the consensus target is $87.14.

Cullen Capital Management LLC acquired a new position in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 718,986 shares of the company's stock, valued at approximately $55,908,000.

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

TotalEnergies Stock Performance

NYSE TTE opened at $89.46 on Tuesday. The company has a 50-day simple moving average of $83.16 and a two-hundred day simple moving average of $85.15. The company has a quick ratio of 0.85, a current ratio of 1.06 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 firm has a market cap of $214.51 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 3.17 and a beta of 0.13.

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 firm had revenue of $57.10 billion for the quarter. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 10.65 EPS for the current year.

Analysts Set New Price Targets

TTE has been the subject of several research analyst reports. TD Cowen lifted their price target on TotalEnergies from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Weiss Ratings raised TotalEnergies from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Zacks Research downgraded TotalEnergies from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Mizuho started coverage on TotalEnergies in a research note on Monday, July 20th. They issued an "outperform" rating and a $103.00 target price for the company. Finally, Morgan Stanley reiterated an "overweight" rating on shares of TotalEnergies in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TotalEnergies currently has a consensus rating of "Moderate Buy" and a consensus target price 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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