Wedge Capital Management L L P NC Has $11.41 Million Holdings in TotalEnergies SE Sponsored ADR $TTE

Wedge Capital Management L L P NC lessened its position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 8.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,679 shares of the company’s stock after selling 14,291 shares during the period. Wedge Capital Management L L P NC’s holdings in TotalEnergies were worth $11,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of TotalEnergies by 151.0% in the 1st quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock valued at $4,364,000 after purchasing an additional 40,586 shares during the period. Empowered Funds LLC grew its stake in 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 purchasing an additional 835 shares during the period. Sivia Capital Partners LLC grew its stake in 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 purchasing an additional 774 shares during the period. Russell Investments Group Ltd. grew its stake in 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 purchasing an additional 3,151 shares during the period. Finally, Invesco Ltd. increased its holdings in TotalEnergies by 7.3% in the second quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock worth $12,168,000 after purchasing an additional 13,536 shares in the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

Analyst Ratings Changes

TTE has been the topic of several recent analyst reports. Mizuho began coverage on TotalEnergies in a research note on Monday, July 20th. They issued an “outperform” rating and a $103.00 price target on the stock. Kepler Capital Markets upgraded shares of TotalEnergies from a “reduce” rating to a “hold” rating in a research note on Thursday, April 23rd. TD Cowen boosted their target price on shares of TotalEnergies from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wall Street Zen downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, BNP Paribas Exane raised shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a research note on Friday, April 17th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.14.

TotalEnergies Stock Down 0.4%

Shares of NYSE:TTE opened at $87.61 on Thursday. The business’s 50 day simple moving average is $82.98 and its two-hundred day simple moving average is $84.16. The firm has a market cap of $210.06 billion, a P/E ratio of 10.96, a PEG ratio of 3.10 and a beta of 0.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. TotalEnergies SE Sponsored ADR has a 52-week low of $57.39 and a 52-week high of $94.17.

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

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.