TotalEnergies SE Sponsored ADR $TTE Stake Boosted by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its TotalEnergies stake by 14.8% in the third quarter, adding 204,942 shares to hold about 1.59 million shares valued at $136.3 million.
• TotalEnergies beat quarterly expectations, reporting earnings of $4.03 per share versus $3.84 expected and revenue of $61.86 billion versus $55.39 billion forecast.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $96; ratings include two Strong Buys, nine Buys, six Holds, and one Sell.

Pictet Asset Management Holding SA boosted its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585,273 shares of the company's stock after purchasing an additional 204,942 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of TotalEnergies worth $136,308,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BIP Wealth LLC raised its holdings in shares of TotalEnergies by 4.0% during the third quarter. BIP Wealth LLC now owns 2,896 shares of the company's stock worth $248,000 after purchasing an additional 111 shares during the period. Visionary Horizons LLC lifted its position in shares of TotalEnergies by 3.4% in the 3rd quarter. Visionary Horizons LLC now owns 3,396 shares of the company's stock worth $290,000 after buying an additional 112 shares during the last quarter. Obermeyer Wealth Partners lifted its position in shares of TotalEnergies by 0.6% in the 3rd quarter. Obermeyer Wealth Partners now owns 20,591 shares of the company's stock worth $1,765,000 after buying an additional 119 shares during the last quarter. Crumly & Associates Inc. boosted its holdings in shares of TotalEnergies by 1.6% in the 3rd quarter. Crumly & Associates Inc. now owns 9,206 shares of the company's stock valued at $787,000 after buying an additional 148 shares during the period. Finally, Fiduciary Financial Group LLC boosted its holdings in shares of TotalEnergies by 5.9% in the 2nd quarter. Fiduciary Financial Group LLC now owns 2,767 shares of the company's stock valued at $215,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 16.53% of the company's stock.

TotalEnergies Trading Up 0.2%

Shares of TTE stock opened at $87.97 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.89 and a current ratio of 1.11. TotalEnergies SE Sponsored ADR has a 1 year low of $61.63 and a 1 year high of $95.78. The stock has a fifty day moving average of $89.78 and a two-hundred day moving average of $85.67. The firm has a market capitalization of $210.91 billion, a PE ratio of 8.79 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The company reported $4.03 earnings per share for the quarter, topping analysts' consensus estimates of $3.84 by $0.19. The company had revenue of $61.86 billion during the quarter, compared to analyst estimates of $55.39 billion. TotalEnergies had a net margin of 9.61% and a return on equity of 19.08%. As a group, research analysts expect that TotalEnergies SE Sponsored ADR will post 12.72 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TTE shares. Morgan Stanley lowered TotalEnergies from an "overweight" rating to an "equal weight" rating and set a $90.00 target price for the company. in a report on Thursday, September 3rd. Mizuho set a $108.00 price target on TotalEnergies in a research report on Friday, October 16th. Freedom Broker raised TotalEnergies from a "sell" rating to a "hold" rating in a report on Tuesday, November 3rd. TD Cowen reduced their price objective on TotalEnergies from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, October 13th. Finally, Piper Sandler boosted their price objective on TotalEnergies from $84.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TotalEnergies presently has an average rating of "Moderate Buy" and an average target price of $96.00.

TotalEnergies Profile

TotalEnergies SE is a France-based integrated energy company with operations spanning the oil and natural gas value chain. Its activities include exploring for and producing hydrocarbons, processing and refining them, and supplying energy products to customers.

The company also markets natural gas, including liquefied natural gas, and operates in electricity generation and renewable energy. Its portfolio includes solar and wind power, as well as energy storage and related services.

Founded in 1924 as Compagnie française des pétroles, the company has expanded and evolved through acquisitions and business changes.

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