Fulton Bank N.A. Lowers Stock Holdings in TotalEnergies SE Sponsored ADR $TTE

Fulton Bank N.A. reduced its position in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 31.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,015 shares of the company’s stock after selling 16,870 shares during the quarter. Fulton Bank N.A.’s holdings in TotalEnergies were worth $2,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TTE. Amundi acquired a new position in shares of TotalEnergies in the first quarter valued at approximately $18,868,822,000. Vanguard Group Inc. acquired a new position in shares of TotalEnergies in the fourth quarter worth $5,337,330,000. Capital International Investors grew its stake in shares of TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock worth $3,435,988,000 after acquiring an additional 49,245,192 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of TotalEnergies during the fourth quarter worth $1,982,676,000. Finally, Norges Bank purchased a new stake in shares of TotalEnergies during the fourth quarter worth $1,917,626,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TTE. Wall Street Zen lowered TotalEnergies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research downgraded TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Kepler Capital Markets raised TotalEnergies from a “reduce” rating to a “hold” rating in a research report on Thursday, April 23rd. TD Cowen lifted their price objective on TotalEnergies from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Mizuho initiated coverage on TotalEnergies in a research report on Monday, July 20th. They set an “outperform” rating and a $103.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, TotalEnergies currently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

TotalEnergies Price Performance

TotalEnergies stock opened at $88.04 on Wednesday. The stock has a market cap of $211.10 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 3.10 and a beta of 0.14. The company has a fifty day simple moving average of $83.03 and a 200-day simple moving average of $84.02. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

TotalEnergies (NYSE:TTE) last issued its earnings results on Tuesday, June 30th. The company reported $2.68 EPS for the quarter. The firm had revenue of $57.10 billion during the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. Equities analysts expect that TotalEnergies SE Sponsored ADR will post 10.65 EPS for the current fiscal 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.