TotalEnergies SE Sponsored ADR $TTE Stock: Maryland State Retirement & Pension System Trims Stake

Maryland State Retirement & Pension System reduced its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 327,927 shares of the company’s stock after selling 5,785 shares during the period. Maryland State Retirement & Pension System’s holdings in TotalEnergies were worth $28,129,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Ritholtz Wealth Management grew its position in shares of TotalEnergies by 4.8% during the third quarter. Ritholtz Wealth Management now owns 45,437 shares of the company’s stock valued at $3,885,000 after purchasing an additional 2,091 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of TotalEnergies by 262.2% in the third quarter. Walter Public Investments Inc. now owns 84,400 shares of the company’s stock worth $7,238,000 after buying an additional 61,100 shares in the last quarter. First Command Advisory Services Inc. lifted its position in shares of TotalEnergies by 293.3% in the third quarter. First Command Advisory Services Inc. now owns 2,458 shares of the company’s stock worth $214,000 after buying an additional 1,833 shares in the last quarter. Silver Grove Financial Group Inc. lifted its position in shares of TotalEnergies by 14.5% in the third quarter. Silver Grove Financial Group Inc. now owns 915 shares of the company’s stock worth $78,000 after buying an additional 116 shares in the last quarter. Finally, Bahl & Gaynor LLC bought a new position in TotalEnergies during the third quarter valued at approximately $431,000. Hedge funds and other institutional investors own 16.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley lowered TotalEnergies from an “overweight” rating to an “equal weight” rating and set a $90.00 price target for the company. in a research note 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 note on Tuesday, October 13th. Piper Sandler upped their price objective on TotalEnergies from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Wall Street Zen raised TotalEnergies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Finally, Barclays reiterated an “overweight” rating on shares of TotalEnergies in a research report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, TotalEnergies has an average rating of “Moderate Buy” and an average price target of $96.00.

TotalEnergies Stock Performance

Shares of NYSE:TTE opened at $87.88 on Thursday. TotalEnergies SE Sponsored ADR has a 52 week low of $62.15 and a 52 week high of $95.78. The stock has a market capitalization of $210.72 billion, a P/E ratio of 8.78 and a beta of 0.14. The firm has a fifty day simple moving average of $89.74 and a two-hundred day simple moving average of $85.96. The company has a quick ratio of 0.89, a current ratio of 1.11 and a debt-to-equity ratio of 0.36.

TotalEnergies (NYSE:TTE) last posted its earnings results on Friday, October 30th. The company reported $4.03 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $0.19. The firm had revenue of $61.86 billion for the quarter, compared to the consensus estimate of $55.39 billion. TotalEnergies had a net margin of 9.61% and a return on equity of 19.08%. On average, analysts expect that TotalEnergies SE Sponsored ADR will post 12.95 earnings per share for the current fiscal year.

About TotalEnergies

TotalEnergies SE is a France-based integrated energy company with operations spanning the oil and natural gas value chain. Its activities include exploring for and producing hydrocarbons, processing and refining them, and supplying energy products to customers. The company also markets natural gas, including liquefied natural gas, and operates in electricity generation and renewable energy. Its portfolio includes solar and wind power, as well as energy storage and related services. Founded in 1924 as Compagnie française des pétroles, the company has expanded and evolved through acquisitions and business changes.