Sterling Capital Management LLC Buys Shares of 20,380 TotalEnergies SE Sponsored ADR $TTE

Sterling Capital Management LLC purchased a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,380 shares of the company’s stock, valued at approximately $1,854,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of TotalEnergies in the fourth quarter valued at approximately $5,337,330,000. Capital International Investors lifted its holdings in TotalEnergies by 1,438.5% during 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in TotalEnergies by 21,398.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock worth $2,641,693,000 after buying an additional 40,192,677 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new position in TotalEnergies in the 4th quarter valued at approximately $1,982,676,000. Finally, Norges Bank purchased a new position in TotalEnergies in the 4th quarter valued at approximately $1,917,626,000. Institutional investors and hedge funds own 16.53% of the company’s stock.

TotalEnergies Trading Up 1.2%

NYSE TTE opened at $77.70 on Tuesday. The firm’s fifty day moving average price is $87.89 and its 200 day moving average price is $80.31. TotalEnergies SE Sponsored ADR has a 12 month low of $57.39 and a 12 month high of $94.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.85. The company has a market capitalization of $186.31 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.60 and a beta of 0.12.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.23. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The firm had revenue of $49.52 billion during the quarter, compared to analysts’ expectations of $44.58 billion. On average, sell-side analysts expect that TotalEnergies SE Sponsored ADR will post 11.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TTE shares. CICC Research started coverage on TotalEnergies in a research report on Tuesday, June 23rd. They set an “outperform” rating on the stock. Wall Street Zen upgraded TotalEnergies from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. raised TotalEnergies from a “neutral” rating to an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings raised TotalEnergies from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Finally, Piper Sandler boosted their price objective on TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Ten investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.33.

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.