TotalEnergies (NYSE:TTE) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of TotalEnergies (NYSE:TTE) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on TTE. Piper Sandler boosted their price target on TotalEnergies from $74.00 to $92.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Wall Street Zen raised TotalEnergies from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup reissued a “buy” rating on shares of TotalEnergies in a research note on Thursday, February 12th. Kepler Capital Markets raised TotalEnergies from a “reduce” rating to a “hold” rating in a research report on Thursday, April 23rd. Finally, Freedom Capital cut TotalEnergies from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.33.

TotalEnergies Trading Down 1.5%

Shares of NYSE TTE opened at $90.25 on Monday. The stock has a market cap of $216.39 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 3.25 and a beta of 0.14. The business has a 50 day simple moving average of $90.33 and a 200 day simple moving average of $76.93. TotalEnergies has a 52 week low of $57.39 and a 52 week high of $94.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.08.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.22 by $0.23. The business had revenue of $49.52 billion during the quarter, compared to analysts’ expectations of $44.58 billion. TotalEnergies had a return on equity of 14.01% and a net margin of 7.43%. On average, research analysts predict that TotalEnergies will post 10.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TotalEnergies

A number of large investors have recently added to or reduced their stakes in TTE. AQR Capital Management LLC boosted its position in TotalEnergies by 151.0% during the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock worth $4,364,000 after purchasing an additional 40,586 shares during the period. Empowered Funds LLC lifted its holdings in shares of TotalEnergies by 2.1% during the first quarter. Empowered Funds LLC now owns 40,988 shares of the company’s stock worth $2,652,000 after buying an additional 835 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of TotalEnergies by 17.7% during the second quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company’s stock worth $315,000 after buying an additional 774 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of TotalEnergies by 14.9% during the second quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock worth $1,490,000 after buying an additional 3,151 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of TotalEnergies by 7.3% during the second quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock worth $12,168,000 after buying an additional 13,536 shares during the last quarter. Institutional investors own 16.53% of the company’s stock.

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.