TotalEnergies SE Sponsored ADR $TTE Stock Position Reduced by Bank of America Corp DE

Key Points

• Bank of America cut its TotalEnergies stake by 35.5% in the first quarter, selling 6.46 million shares and retaining 11.75 million shares valued at approximately $1.07 billion.
• TotalEnergies shares opened at $88.12, up 1.3%, with a market capitalization of $211.3 billion. The company reported quarterly revenue of $57.1 billion and earnings of $2.68 per share.
• Analyst sentiment remains favorable, with 11 Buy, seven Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $87.14.

Bank of America Corp DE lessened its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE - Free Report) by 35.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,754,096 shares of the company's stock after selling 6,462,524 shares during the quarter. Bank of America Corp DE owned 0.49% of TotalEnergies worth $1,069,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTE. YANKCOM Partnership increased its stake in shares of TotalEnergies by 146.8% in the fourth quarter. YANKCOM Partnership now owns 390 shares of the company's stock worth $25,000 after acquiring an additional 232 shares during the last quarter. MH & Associates Securities Management Corp ADV acquired a new stake in TotalEnergies during the fourth quarter valued at $29,000. Lodestone Wealth Management LLC acquired a new stake in TotalEnergies during the fourth quarter valued at $32,000. Elyxium Wealth LLC purchased a new position in TotalEnergies in the fourth quarter valued at about $33,000. Finally, SHP Wealth Management purchased a new position in TotalEnergies in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Stock Up 1.3%

Shares of TTE stock opened at $88.12 on Friday. The stock's 50 day simple moving average is $83.36 and its 200 day simple moving average is $82.91. TotalEnergies SE Sponsored ADR has a twelve month low of $57.39 and a twelve month high of $94.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. The company has a market capitalization of $211.29 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 3.10 and a beta of 0.14.

TotalEnergies (NYSE:TTE - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The firm had revenue of $57.10 billion during the quarter. As a group, research analysts predict that TotalEnergies SE Sponsored ADR will post 10.55 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TTE shares. CICC Research initiated coverage on TotalEnergies in a research note on Tuesday, June 23rd. They set an "outperform" rating for the company. Weiss Ratings raised TotalEnergies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Morgan Stanley restated an "overweight" rating on shares of TotalEnergies in a report on Tuesday, May 12th. Scotiabank raised their price objective on shares of TotalEnergies from $73.00 to $97.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, BNP Paribas Exane upgraded shares of TotalEnergies from a "neutral" rating to an "outperform" rating in a research note on Friday, April 17th. Eleven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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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