LGT Fund Management Co Ltd. Sells 106,357 Shares of TotalEnergies SE Sponsored ADR $TTE

Key Points

• LGT Fund Management cut its stake in TotalEnergies by 47.8% in the first quarter, selling 106,357 shares and leaving it with 116,252 shares valued at about $10.87 million.
• TotalEnergies reported strong quarterly results, with EPS of $2.45 versus estimates of $2.22 and revenue of $49.52 billion, both beating analyst expectations.
• Wall Street sentiment is still fairly positive overall: the stock has a Moderate Buy consensus rating with an average price target of $84.33, though several recent analyst actions were mixed.

LGT Fund Management Co Ltd. reduced its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 47.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,252 shares of the company's stock after selling 106,357 shares during the period. LGT Fund Management Co Ltd.'s holdings in TotalEnergies were worth $10,870,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTE. Diversify Wealth Management LLC grew its position in shares of TotalEnergies by 34.3% during the 1st quarter. Diversify Wealth Management LLC now owns 21,552 shares of the company's stock valued at $1,988,000 after acquiring an additional 5,504 shares during the period. 180 Wealth Advisors LLC purchased a new position in TotalEnergies during the first quarter valued at $501,000. Ferguson Wellman Capital Management Inc. purchased a new position in TotalEnergies during the first quarter valued at $645,000. Citizens Financial Group Inc. RI bought a new stake in TotalEnergies during the first quarter valued at about $647,000. Finally, Sovran Advisors LLC grew its holdings in TotalEnergies by 7.1% during the first quarter. Sovran Advisors LLC now owns 5,216 shares of the company's stock valued at $484,000 after purchasing an additional 344 shares during the period. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Price Performance

TTE traded up $0.22 on Friday, hitting $78.45. 1,177,162 shares of the company's stock traded hands, compared to its average volume of 1,620,015. The company's 50 day simple moving average is $85.72 and its 200-day simple moving average is $80.96. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. TotalEnergies SE Sponsored ADR has a one year low of $57.39 and a one year high of $94.17. The firm has a market cap of $188.09 billion, a price-to-earnings 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 data on Wednesday, April 29th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.22 by $0.23. The business had revenue of $49.52 billion during the quarter, compared to analyst estimates of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, research analysts anticipate that TotalEnergies SE Sponsored ADR will post 10.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen reaffirmed a "buy" rating on shares of TotalEnergies in a research note on Monday, April 20th. Weiss Ratings raised shares of TotalEnergies from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, May 1st. Wall Street Zen lowered shares of TotalEnergies from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Zacks Research downgraded shares of TotalEnergies from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Kepler Capital Markets upgraded shares of TotalEnergies from a "reduce" rating to a "hold" rating in a research note on Thursday, April 23rd. 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $84.33.

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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