Merewether Investment Management LP Makes New $1.41 Million Investment in TotalEnergies SE (NYSE:TTE)

Merewether Investment Management LP acquired a new stake in TotalEnergies SE (NYSE:TTE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,785 shares of the company’s stock, valued at approximately $1,405,000.

Other large investors have also made changes to their positions in the company. Asset Planning Inc acquired a new stake in shares of TotalEnergies during the 4th quarter worth about $31,000. Bernard Wealth Management Corp. purchased a new position in shares of TotalEnergies during the 4th quarter worth $32,000. HHM Wealth Advisors LLC boosted its holdings in shares of TotalEnergies by 156.3% during the fourth quarter. HHM Wealth Advisors LLC now owns 656 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of TotalEnergies in the fourth quarter valued at $49,000. Finally, SRS Capital Advisors Inc. increased its stake in TotalEnergies by 108.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,186 shares of the company’s stock valued at $65,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 16.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TTE shares. Scotiabank lowered their price target on TotalEnergies from $65.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Redburn Atlantic raised shares of TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. BNP Paribas upgraded shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 15th. Dbs Bank upgraded TotalEnergies from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Citigroup upgraded TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.76.

TotalEnergies Trading Down 0.2%

Shares of TTE opened at $58.67 on Tuesday. TotalEnergies SE has a 12 month low of $52.78 and a 12 month high of $74.43. The stock’s 50-day moving average is $59.83 and its two-hundred day moving average is $59.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market cap of $140.68 billion, a PE ratio of 8.81, a P/E/G ratio of 0.98 and a beta of 0.58.

TotalEnergies (NYSE:TTE) last announced its earnings results on Wednesday, April 30th. The company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.05). TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. The business had revenue of $47.90 billion for the quarter, compared to analyst estimates of $41.23 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. Equities analysts forecast that TotalEnergies SE will post 8.02 earnings per share for the current fiscal year.

About TotalEnergies

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.