TotalEnergies (NYSE:TTE) Shares Gap Up - Time to Buy?

Key Points

• TotalEnergies shares rose 3.4%, opening at $86.77 compared with the prior close of $84.23 and last trading at $87.02.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating from 18 analysts, with an average price target of $92.00.
• The company reported quarterly EPS of $2.68 on $57.10 billion in revenue, while hedge funds and institutional investors continued adjusting their positions; institutions own 16.53% of the stock.

TotalEnergies SE Sponsored ADR (NYSE:TTE - Get Free Report) gapped up before the market opened on Thursday. The stock had previously closed at $84.23, but opened at $86.77. TotalEnergies shares last traded at $87.02, with a volume of 205,989 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TTE. Wall Street Zen raised TotalEnergies from a "hold" rating to a "buy" rating in a report on Monday, August 31st. CICC Research assumed coverage on TotalEnergies in a research note on Tuesday, June 23rd. They set an "outperform" rating for the company. Barclays reiterated an "overweight" rating on shares of TotalEnergies in a research note on Monday. Morgan Stanley set a $90.00 price objective on shares of TotalEnergies and gave the stock an "equal weight" rating in a report on Thursday, September 3rd. Finally, Piper Sandler boosted their target price on shares of TotalEnergies from $84.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.00.

TotalEnergies Stock Up 3.4%

The firm has a market capitalization of $208.76 billion, a PE ratio of 10.89 and a beta of 0.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.06 and a quick ratio of 0.85. The company has a 50-day moving average price of $88.55 and a 200 day moving average price of $87.39.

TotalEnergies (NYSE:TTE - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%.The firm had revenue of $57.10 billion during the quarter. Analysts forecast that TotalEnergies SE Sponsored ADR will post 11.65 earnings per share for the current year.

Hedge Funds Weigh In On TotalEnergies

Hedge funds have recently modified their holdings of the stock. Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of TotalEnergies by 16.9% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 153,140 shares of the company's stock worth $11,900,000 after purchasing an additional 22,103 shares during the last quarter. Plato Investment Management Ltd bought a new position in TotalEnergies during the second quarter valued at approximately $1,349,000. Flossbach Von Storch SE purchased a new position in TotalEnergies during the 2nd quarter valued at approximately $30,877,000. Groupe la Francaise grew its holdings in TotalEnergies by 8.9% during the 1st quarter. Groupe la Francaise now owns 7,617,900 shares of the company's stock valued at $683,234,000 after buying an additional 624,764 shares in the last quarter. Finally, Saudi Central Bank bought a new stake in TotalEnergies in the 2nd quarter worth approximately $42,154,000. Hedge funds and other institutional investors own 16.53% of the company's stock.

TotalEnergies Company Profile

TotalEnergies SE is a France-based, integrated energy company that produces and markets oil, natural gas, liquefied natural gas (LNG), electricity and low-carbon energy. Its operations span the energy value chain, including exploration and production, refining, petrochemicals, fuel distribution, lubricants, and energy trading.

The company is also expanding its renewable and electricity businesses, with activities in solar and wind power, battery storage, electric-vehicle charging and other lower-carbon energy solutions.

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