TotalEnergies SE Sponsored ADR $TTE Stock Position Lowered by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 27.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,082 shares of the company’s stock after selling 6,049 shares during the period. Pzena Investment Management LLC’s holdings in TotalEnergies were worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. QRG Capital Management Inc. grew its stake in TotalEnergies by 47.9% during the 2nd quarter. QRG Capital Management Inc. now owns 114,663 shares of the company’s stock valued at $8,916,000 after acquiring an additional 37,112 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its holdings in TotalEnergies by 16.9% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 153,140 shares of the company’s stock valued at $11,900,000 after acquiring an additional 22,103 shares during the last quarter. Plato Investment Management Ltd purchased a new position in TotalEnergies in the 2nd quarter worth approximately $1,349,000. Flossbach Von Storch SE purchased a new position in TotalEnergies in the 2nd quarter worth approximately $30,877,000. Finally, Saudi Central Bank purchased a new position in TotalEnergies in the 2nd quarter worth approximately $42,154,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TTE shares. Freedom Broker upgraded TotalEnergies from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Sandler increased their price target on TotalEnergies from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. TD Cowen reduced their price objective on TotalEnergies from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Barclays reiterated an “overweight” rating on shares of TotalEnergies in a research report on Monday, October 5th. Finally, Mizuho set a $108.00 price objective on TotalEnergies in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

TotalEnergies Trading Down 2.0%

Shares of TTE opened at $88.62 on Friday. TotalEnergies SE Sponsored ADR has a 12-month low of $61.05 and a 12-month high of $95.78. The firm has a market capitalization of $212.48 billion, a P/E ratio of 8.85 and a beta of 0.14. The firm has a 50-day moving average price of $89.75 and a 200 day moving average price of $85.56. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last issued its earnings results on Friday, October 30th. The company reported $4.03 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $0.19. TotalEnergies had a net margin of 9.61% and a return on equity of 19.08%. The company had revenue of $61.86 billion for the quarter, compared to the consensus estimate of $55.39 billion. Sell-side analysts forecast that TotalEnergies SE Sponsored ADR will post 12.72 EPS for the current year.

TotalEnergies Company Profile

TotalEnergies SE is a French multinational energy company that explores for, produces, processes and markets oil and natural gas. Established in 1924 as the Compagnie française des pétroles, the company adopted the TotalEnergies name in 2021 to reflect its broader focus on multiple forms of energy.

The company’s activities include liquefied natural gas, refining and petrochemicals, fuels, lubricants, and the operation of service stations. TotalEnergies also develops and sells electricity from renewable and other power-generation sources, including solar and wind projects, as well as energy-storage and electric-vehicle charging solutions.

TotalEnergies serves customers and operates projects across numerous regions, including Europe, Africa, the Middle East, the Americas and the Asia-Pacific region.