DAVENPORT & Co LLC Sells 28,685 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• Davenport & Co. LLC reduced its TotalEnergies position by 19.4% in the second quarter, selling 28,685 shares and retaining 118,949 shares valued at approximately $9.25 million.
• 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. Analysts expect approximately $10.65 in full-year EPS.
• TTE shares opened at $87.61, while analysts maintained an overall “Moderate Buy” consensus and an average price target of $87.14; institutional investors own 16.53% of the stock.

DAVENPORT & Co LLC lowered its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,949 shares of the company's stock after selling 28,685 shares during the quarter. DAVENPORT & Co LLC's holdings in TotalEnergies were worth $9,251,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Robinswood Financial LLC bought a new stake in shares of TotalEnergies during the 1st quarter valued at $27,000. Elyxium Wealth LLC bought a new position in TotalEnergies in the 4th quarter worth $33,000. SHP Wealth Management purchased a new stake in TotalEnergies in the 4th quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TotalEnergies in the 4th quarter worth $38,000. Finally, Maseco LLP raised its holdings in TotalEnergies by 119.9% during the first quarter. Maseco LLP now owns 420 shares of the company's stock valued at $38,000 after acquiring an additional 229 shares during the period. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Down 0.4%

TTE opened at $87.61 on Thursday. The firm has a 50-day simple moving average of $82.98 and a two-hundred day simple moving average of $84.16. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17. The company has a market capitalization of $210.06 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.10 and a beta of 0.14. 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 (NYSE:TTE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. The firm had revenue of $57.10 billion during the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%. Analysts forecast that TotalEnergies SE Sponsored ADR will post 10.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TTE has been the subject of a number of recent analyst reports. Weiss Ratings raised TotalEnergies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Mizuho initiated coverage on TotalEnergies in a research note on Monday, July 20th. They set an "outperform" rating and a $103.00 target price on the stock. TD Cowen boosted their price target on TotalEnergies from $102.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Wall Street Zen downgraded TotalEnergies from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Scotiabank increased their price objective on shares of TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, TotalEnergies presently 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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