Cullen Capital Management LLC Purchases New Stake in TotalEnergies SE Sponsored ADR $TTE

Cullen Capital Management LLC purchased a new stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 718,986 shares of the company’s stock, valued at approximately $55,908,000.

Other large investors have also added to or reduced their stakes in the company. Amundi purchased a new position in TotalEnergies during the 1st quarter valued at about $18,868,822,000. Vanguard Group Inc. purchased a new stake in TotalEnergies in the 4th quarter worth approximately $5,337,330,000. Capital International Investors lifted its holdings in TotalEnergies by 1,438.5% in the 4th quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock worth $3,435,988,000 after buying an additional 49,245,192 shares during the period. Caisse Des Depots ET Consignations bought a new stake in shares of TotalEnergies in the 4th quarter worth approximately $1,982,676,000. Finally, Norges Bank bought a new stake in shares of TotalEnergies in the 4th quarter worth approximately $1,917,626,000. Institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Performance

TotalEnergies stock opened at $89.46 on Tuesday. TotalEnergies SE Sponsored ADR has a fifty-two week low of $57.39 and a fifty-two week high of $94.17. The stock’s 50 day simple moving average is $83.16 and its two-hundred day simple moving average is $85.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. The stock has a market cap of $214.51 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 3.17 and a beta of 0.13.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler restated a “neutral” rating and set a $85.00 target price on shares of TotalEnergies in a report on Thursday, July 23rd. Morgan Stanley reiterated an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating in a research report on Sunday. Mizuho started coverage on shares of TotalEnergies in a research report on Monday, July 20th. They set an “outperform” rating and a $103.00 price objective on the stock. Finally, CICC Research initiated coverage on shares of TotalEnergies in a report on Tuesday, June 23rd. They issued an “outperform” rating for the company. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

TotalEnergies 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.