Procyon Advisors LLC Makes New Investment in TotalEnergies SE Sponsored ADR $TTE

Procyon Advisors LLC bought a new position in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) in the first quarter, HoldingsChannel reports. The firm bought 11,242 shares of the company’s stock, valued at approximately $1,023,000.

Other large investors have also modified their holdings of the company. Aberdeen Group plc increased its holdings in shares of TotalEnergies by 14.5% in the 4th quarter. Aberdeen Group plc now owns 384,040 shares of the company’s stock valued at $25,124,000 after purchasing an additional 48,640 shares in the last quarter. ABN AMRO Bank N.V. acquired a new stake in shares of TotalEnergies in the fourth quarter valued at about $122,831,000. Assetmark Inc. boosted its holdings in TotalEnergies by 8.1% during the fourth quarter. Assetmark Inc. now owns 246,475 shares of the company’s stock worth $16,124,000 after buying an additional 18,480 shares in the last quarter. Vanguard Group Inc. purchased a new stake in TotalEnergies during the fourth quarter worth about $5,337,330,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in TotalEnergies during the fourth quarter worth about $830,000. 16.53% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Price Performance

Shares of NYSE TTE opened at $80.98 on Wednesday. The stock has a market cap of $194.17 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.89 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a 52 week low of $57.39 and a 52 week high of $94.17. The company’s 50-day moving average price is $85.24 and its 200 day moving average price is $81.29. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, April 29th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.23. The firm had revenue of $49.52 billion during the quarter, compared to the consensus estimate of $44.58 billion. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. As a group, research analysts forecast that TotalEnergies SE Sponsored ADR will post 10.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

TTE has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. Weiss Ratings raised TotalEnergies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Wall Street Zen cut TotalEnergies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. CICC Research initiated coverage on TotalEnergies in a research note on Tuesday, June 23rd. They issued an “outperform” rating for the company. Finally, BNP Paribas Exane raised TotalEnergies from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.