Ritholtz Wealth Management Reduces Position in TotalEnergies SE Sponsored ADR $TTE

Ritholtz Wealth Management decreased its position in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 14.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,916 shares of the company’s stock after selling 8,263 shares during the period. Ritholtz Wealth Management’s holdings in TotalEnergies were worth $4,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake 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 valued at $4,364,000 after acquiring an additional 40,586 shares during the last quarter. Empowered Funds LLC grew its stake in shares of TotalEnergies by 2.1% in the first quarter. Empowered Funds LLC now owns 40,988 shares of the company’s stock worth $2,652,000 after purchasing an additional 835 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in TotalEnergies by 17.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,136 shares of the company’s stock valued at $315,000 after purchasing an additional 774 shares during the period. Russell Investments Group Ltd. increased its holdings in TotalEnergies by 14.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,274 shares of the company’s stock valued at $1,490,000 after purchasing an additional 3,151 shares during the period. Finally, Invesco Ltd. raised its position in TotalEnergies by 7.3% during the 2nd quarter. Invesco Ltd. now owns 198,215 shares of the company’s stock valued at $12,168,000 after purchasing an additional 13,536 shares during the last quarter. 16.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TTE shares. Piper Sandler increased their price objective on TotalEnergies from $74.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wall Street Zen upgraded TotalEnergies from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Weiss Ratings raised TotalEnergies from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Zacks Research cut shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, BNP Paribas Exane upgraded shares of 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 issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

TotalEnergies Stock Performance

Shares of TotalEnergies stock opened at $78.39 on Friday. TotalEnergies SE Sponsored ADR has a 12 month low of $57.39 and a 12 month high of $94.17. The firm has a market capitalization of $187.95 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.67 and a beta of 0.12. 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 business has a fifty day simple moving average of $88.36 and a two-hundred day simple moving average of $80.14.

TotalEnergies (NYSE:TTE) last released its earnings results on Wednesday, April 29th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.23. The firm had revenue of $49.52 billion for 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%. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 11.09 earnings per share for the current fiscal year.

TotalEnergies Company Profile

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.