Pictet Asset Management Holding SA Sells 18,435 Shares of TotalEnergies SE Sponsored ADR $TTE

Pictet Asset Management Holding SA lowered its stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,476,471 shares of the company’s stock after selling 18,435 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of TotalEnergies worth $137,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TTE. AQR Capital Management LLC increased its position in shares of TotalEnergies by 151.0% during the first quarter. AQR Capital Management LLC now owns 67,461 shares of the company’s stock worth $4,364,000 after acquiring an additional 40,586 shares in the last quarter. Empowered Funds LLC lifted its holdings 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 acquiring an additional 835 shares during the period. Sivia Capital Partners LLC boosted its position in TotalEnergies by 17.7% in 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 last quarter. Russell Investments Group Ltd. raised its position in TotalEnergies by 14.9% in the second quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock worth $1,490,000 after acquiring an additional 3,151 shares during the period. Finally, Invesco Ltd. increased its position 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 buying an additional 13,536 shares during the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TTE shares. Wall Street Zen upgraded shares of TotalEnergies from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. CICC Research began coverage on shares of TotalEnergies in a report on Tuesday, June 23rd. They issued an “outperform” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of TotalEnergies in a research report on Tuesday, May 12th. TD Cowen reiterated a “buy” rating on shares of TotalEnergies in a research report on Monday, April 20th. Finally, Piper Sandler upped their target price on TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TotalEnergies presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.33.

TotalEnergies Price Performance

Shares of TTE stock opened at $76.76 on Monday. The firm has a market cap of $184.05 billion, a P/E ratio of 11.37, a P/E/G ratio of 2.60 and a beta of 0.12. TotalEnergies SE Sponsored ADR has a fifty-two week low of $57.39 and a fifty-two week high of $94.17. The business’s 50 day moving average price is $88.15 and its 200-day moving average price is $80.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 1.08.

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

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.