TotalEnergies SE (NYSE:TTE) Sees Significant Drop in Short Interest

TotalEnergies SE (NYSE:TTE) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 4,800,000 shares, a decrease of 21.8% from the June 30th total of 6,140,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TTE. Wolfe Research began coverage on TotalEnergies in a research report on Thursday, July 18th. They set an “outperform” rating and a $87.00 price target on the stock. Scotiabank decreased their price target on TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Piper Sandler upped their price target on TotalEnergies from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.00.

TotalEnergies Price Performance

Shares of TTE stock traded up $0.22 during trading on Friday, hitting $67.85. The company had a trading volume of 696,878 shares, compared to its average volume of 1,114,663. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $68.99 and its two-hundred day moving average is $68.43. The stock has a market capitalization of $160.22 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.66 and a beta of 0.64. TotalEnergies has a 52 week low of $57.97 and a 52 week high of $74.97.

TotalEnergies (NYSE:TTE) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.18. The company had revenue of $56.28 billion for the quarter, compared to analysts’ expectations of $59.64 billion. TotalEnergies had a net margin of 9.49% and a return on equity of 17.93%. As a group, analysts predict that TotalEnergies will post 9.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC grew its position in TotalEnergies by 49.9% during the fourth quarter. Cerity Partners LLC now owns 53,019 shares of the company’s stock valued at $3,578,000 after acquiring an additional 17,658 shares during the last quarter. BNP Paribas Financial Markets grew its position in TotalEnergies by 159,211.0% during the first quarter. BNP Paribas Financial Markets now owns 434,919 shares of the company’s stock valued at $29,935,000 after acquiring an additional 434,646 shares during the last quarter. Cloverfields Capital Group LP grew its position in TotalEnergies by 30.1% during the fourth quarter. Cloverfields Capital Group LP now owns 52,163 shares of the company’s stock valued at $3,515,000 after acquiring an additional 12,072 shares during the last quarter. Capital Wealth Planning LLC grew its position in TotalEnergies by 94.8% during the fourth quarter. Capital Wealth Planning LLC now owns 38,420 shares of the company’s stock valued at $2,589,000 after acquiring an additional 18,699 shares during the last quarter. Finally, Tweedy Browne Co LLC bought a new position in TotalEnergies during the first quarter valued at approximately $10,852,000. 13.22% of the stock is currently owned by institutional investors.

TotalEnergies Company Profile

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.