Saudi Central Bank Acquires New Shares in TotalEnergies SE Sponsored ADR $TTE

Key Points

• Saudi Central Bank acquired 490,410 TotalEnergies ADR shares during the second quarter, valued at approximately $42.2 million. Institutional investors currently own 16.53% of the company.
• Analyst views are mixed: ten analysts rate TotalEnergies a Buy, eight recommend Hold, and one recommends Sell. The stock has an overall “Hold” consensus rating and an average price target of $88.50.
• TotalEnergies reported quarterly revenue of $57.1 billion and earnings of $2.68 per share, with a 15.66% return on equity and an 8.29% net margin. Shares recently opened at $88.63, within a 12-month range of $57.39 to $94.17.

Saudi Central Bank bought a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 490,410 shares of the company's stock, valued at approximately $42,154,000.

Several other institutional investors also recently bought and sold shares of TTE. Plan A Wealth LLC lifted its position in shares of TotalEnergies by 4.6% in the second quarter. Plan A Wealth LLC now owns 12,276 shares of the company's stock worth $955,000 after buying an additional 541 shares during the last quarter. denkapparat Operations GmbH increased its holdings in shares of TotalEnergies by 66.3% during the 2nd quarter. denkapparat Operations GmbH now owns 19,268 shares of the company's stock valued at $1,497,000 after acquiring an additional 7,680 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of TotalEnergies by 3.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250,718 shares of the company's stock valued at $18,810,000 after acquiring an additional 9,086 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of TotalEnergies by 17.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 17,633 shares of the company's stock valued at $1,371,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Strengthening Families & Communities LLC lifted its holdings in TotalEnergies by 5.9% in the 2nd quarter. Strengthening Families & Communities LLC now owns 16,759 shares of the company's stock worth $1,303,000 after purchasing an additional 937 shares during the last quarter. 16.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTE. CICC Research began coverage on TotalEnergies in a research report on Tuesday, June 23rd. They set an "outperform" rating for the company. Wall Street Zen raised shares of TotalEnergies from a "hold" rating to a "buy" rating in a research report on Monday, August 31st. Piper Sandler boosted their price objective on shares of TotalEnergies from $84.00 to $93.00 and gave the stock a "neutral" rating in a research note on Thursday. Mizuho initiated coverage on shares of TotalEnergies in a report on Monday, July 20th. They set an "outperform" rating and a $103.00 price objective for the company. Finally, Zacks Research downgraded shares of TotalEnergies from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $88.50.

TotalEnergies Stock Performance

TTE opened at $88.63 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. The stock's 50 day moving average price is $84.63 and its two-hundred day moving average price is $85.91. The firm has a market capitalization of $212.51 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 3.13 and a beta of 0.13. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its quarterly earnings results 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. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 10.83 earnings per share for the current year.

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.

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