Ritholtz Wealth Management Boosts Stock Position in TotalEnergies SE (NYSE:TTE)

Ritholtz Wealth Management lifted its holdings in shares of TotalEnergies SE (NYSE:TTE) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,037 shares of the company’s stock after buying an additional 9,331 shares during the period. Ritholtz Wealth Management’s holdings in TotalEnergies were worth $4,138,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in TotalEnergies by 159,211.0% in the 1st quarter. BNP Paribas Financial Markets now owns 434,919 shares of the company’s stock valued at $29,935,000 after acquiring an additional 434,646 shares during the last quarter. Gabelli Funds LLC boosted its position in TotalEnergies by 5.5% during the first quarter. Gabelli Funds LLC now owns 309,200 shares of the company’s stock valued at $21,282,000 after purchasing an additional 16,200 shares in the last quarter. Tweedy Browne Co LLC purchased a new position in shares of TotalEnergies in the 1st quarter worth approximately $10,852,000. Norden Group LLC purchased a new stake in shares of TotalEnergies during the 1st quarter valued at $1,300,000. Finally, National Bank of Canada FI increased its holdings in shares of TotalEnergies by 25.7% during the first quarter. National Bank of Canada FI now owns 275,983 shares of the company’s stock valued at $20,370,000 after acquiring an additional 56,403 shares in the last quarter. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TTE has been the subject of a number of recent research reports. Wolfe Research began coverage on shares of TotalEnergies in a research report on Thursday, July 18th. They set an “outperform” rating and a $87.00 price target for the company. Scotiabank reduced their price target on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday. UBS Group raised shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group raised shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, Barclays upgraded TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.75.

TotalEnergies Price Performance

Shares of TTE traded down $0.18 on Friday, reaching $68.28. The stock had a trading volume of 1,793,588 shares, compared to its average volume of 1,448,650. The firm has a market capitalization of $161.24 billion, a PE ratio of 7.74, a PEG ratio of 1.85 and a beta of 0.63. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 0.35. TotalEnergies SE has a twelve month low of $62.59 and a twelve month high of $74.97. The firm has a 50-day moving average of $67.80 and a 200 day moving average of $69.39.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.13). TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. The business had revenue of $53.74 billion for the quarter, compared to analyst estimates of $60.45 billion. During the same quarter last year, the business earned $1.99 EPS. Sell-side analysts expect that TotalEnergies SE will post 8.34 EPS for the current year.

TotalEnergies Company Profile

TotalEnergies SE, a multi-energy company, produces and markets oil and biofuels, natural gas, green gases, renewables, and electricity in France, rest of Europe, North America, Africa, and internationally. It operates through five segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services.