CIBC Asset Management Inc Sells 1,780 Shares of TotalEnergies SE (NYSE:TTE)

CIBC Asset Management Inc trimmed its position in TotalEnergies SE (NYSE:TTE) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 51,100 shares of the company’s stock after selling 1,780 shares during the quarter. CIBC Asset Management Inc’s holdings in TotalEnergies were worth $3,302,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in TotalEnergies by 6,367.4% in the 3rd quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock worth $23,755,000 after acquiring an additional 361,923 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in TotalEnergies during the second quarter valued at $13,306,000. Mediolanum International Funds Ltd purchased a new position in shares of TotalEnergies in the 3rd quarter worth $11,504,000. Allspring Global Investments Holdings LLC increased its holdings in shares of TotalEnergies by 316.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 228,781 shares of the company’s stock worth $14,784,000 after buying an additional 173,810 shares during the last quarter. Finally, OLD Mission Capital LLC bought a new position in shares of TotalEnergies in the 1st quarter valued at about $9,738,000. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TTE shares. UBS Group raised TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Barclays upgraded TotalEnergies to a “strong-buy” rating in a research report on Wednesday, October 2nd. TD Cowen cut shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. The Goldman Sachs Group upgraded shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, Scotiabank cut their price target on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.75.

TotalEnergies Stock Up 0.9 %

NYSE:TTE opened at $61.37 on Tuesday. The stock has a fifty day simple moving average of $65.35 and a 200-day simple moving average of $67.76. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market cap of $144.92 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.64. TotalEnergies SE has a twelve month low of $58.46 and a twelve month high of $74.97.

TotalEnergies Profile

TotalEnergies SE, a multi-energy company, produces and markets oil and biofuels, natural gas, green gases, renewables, and electricity in France, rest of Europe, North America, Africa, and internationally. It operates through five segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services.