Cullen Capital Management LLC Raises Position in TotalEnergies SE Sponsored ADR $TTE

Cullen Capital Management LLC grew its position in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 199,123 shares of the company’s stock after purchasing an additional 8,608 shares during the quarter. Cullen Capital Management LLC’s holdings in TotalEnergies were worth $13,027,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TTE. Vanguard Group Inc. purchased a new position in TotalEnergies in the fourth quarter worth about $5,337,330,000. Capital International Investors raised its holdings in TotalEnergies by 1,438.5% in the fourth 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in TotalEnergies by 21,398.0% in the fourth 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 during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of TotalEnergies during the fourth quarter valued at approximately $1,982,676,000. Finally, Norges Bank purchased a new position in shares of TotalEnergies during the fourth quarter valued at approximately $1,917,626,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Stock Performance

Shares of NYSE TTE opened at $88.08 on Friday. The firm has a 50 day moving average of $90.26 and a 200 day moving average of $79.07. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $211.19 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.97 and a beta of 0.12. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17.

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

Wall Street Analysts Forecast Growth

TTE has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. JPMorgan Chase & Co. raised shares of TotalEnergies from a “neutral” rating to an “overweight” rating in a report on Monday, March 2nd. Piper Sandler boosted their price objective on shares of TotalEnergies from $74.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. BNP Paribas Exane raised shares of TotalEnergies from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. Finally, TD Cowen reissued a “buy” rating on shares of TotalEnergies in a report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.