Wedge Capital Management L L P NC Sells 14,291 Shares of TotalEnergies SE Sponsored ADR $TTE

Wedge Capital Management L L P NC lessened its holdings in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 8.9% during the second quarter, HoldingsChannel reports. The fund owned 146,679 shares of the company’s stock after selling 14,291 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TotalEnergies were worth $11,406,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TTE. Robinswood Financial LLC bought a new stake in TotalEnergies during the 1st quarter worth approximately $27,000. Maseco LLP lifted its holdings in shares of TotalEnergies by 119.9% in the first quarter. Maseco LLP now owns 420 shares of the company’s stock valued at $38,000 after purchasing an additional 229 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of TotalEnergies in the first quarter valued at approximately $39,000. Elyxium Wealth LLC purchased a new position in shares of TotalEnergies during the fourth quarter valued at approximately $33,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TotalEnergies during the first quarter valued at approximately $50,000. Institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Performance

TTE stock opened at $87.61 on Thursday. The firm has a market cap of $210.06 billion, a PE ratio of 10.96, a P/E/G ratio of 3.10 and a beta of 0.14. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $82.98 and a 200-day moving average of $84.16. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $2.68 EPS for the quarter. The business had revenue of $57.10 billion for the quarter. TotalEnergies had a return on equity of 15.66% and a net margin of 8.29%. As a group, sell-side analysts expect that TotalEnergies SE Sponsored ADR will post 10.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TTE. Scotiabank increased their price target on TotalEnergies from $73.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research lowered shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho began coverage on shares of TotalEnergies in a report on Monday, July 20th. They issued an “outperform” rating and a $103.00 target price for the company. Finally, Kepler Capital Markets upgraded shares of TotalEnergies from a “reduce” rating to a “hold” rating in a report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TotalEnergies presently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

TotalEnergies Company Profile

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.