Saudi Central Bank Buys New Shares in TotalEnergies SE Sponsored ADR $TTE

Saudi Central Bank bought a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) during the second quarter, HoldingsChannel reports. The firm bought 490,410 shares of the company’s stock, valued at approximately $42,154,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TTE. Amundi bought a new stake in shares of TotalEnergies in the 1st quarter worth approximately $18,868,822,000. Capital International Investors raised its stake in shares of TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after purchasing an additional 49,245,192 shares in the last quarter. Norges Bank acquired a new position in shares of TotalEnergies in the fourth quarter valued at $1,917,626,000. Legal & General Group Plc bought a new position in TotalEnergies in the fourth quarter worth $967,692,000. Finally, FIL Ltd bought a new position in TotalEnergies in the fourth quarter worth $943,077,000. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Down 0.7%

Shares of NYSE TTE opened at $88.63 on Friday. TotalEnergies SE Sponsored ADR has a 52-week low of $57.39 and a 52-week high of $94.17. 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 business has a fifty day moving average of $84.63 and a two-hundred day moving average of $85.91. The stock has a market cap of $212.51 billion, a PE ratio of 11.09, a PEG ratio of 3.13 and a beta of 0.13.

TotalEnergies (NYSE:TTE) last posted its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share for the quarter. The business had revenue of $57.10 billion for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. As a group, equities research analysts expect that TotalEnergies SE Sponsored ADR will post 10.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TTE. Wall Street Zen raised shares of TotalEnergies from a “hold” rating to a “buy” rating in a report on Monday, August 31st. TD Cowen raised their price objective on shares of TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 24th. CICC Research began coverage on shares of TotalEnergies in a research report on Tuesday, June 23rd. They set an “outperform” rating on the stock. Mizuho began coverage on shares of TotalEnergies in a research note on Monday, July 20th. They issued an “outperform” rating and a $103.00 target price on the stock. Finally, Piper Sandler increased their price target on shares of TotalEnergies from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, TotalEnergies has an average rating of “Hold” and an average target price of $88.50.

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.