Short Interest in TotalEnergies SE (NYSE:TTE) Declines By 39.5%

TotalEnergies SE (NYSE:TTE) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 4,110,000 shares, a decline of 39.5% from the October 15th total of 6,790,000 shares. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is currently 2.9 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Investors Weigh In On TotalEnergies

Several institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in TotalEnergies in the 3rd quarter valued at $26,000. Larson Financial Group LLC lifted its stake in shares of TotalEnergies by 100.5% in the second quarter. Larson Financial Group LLC now owns 423 shares of the company’s stock worth $28,000 after buying an additional 212 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in TotalEnergies during the first quarter worth about $29,000. Continuum Advisory LLC grew its stake in TotalEnergies by 70.4% during the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Finally, Boit C F David acquired a new stake in TotalEnergies in the 3rd quarter valued at about $32,000. 13.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTE has been the subject of a number of research analyst reports. TD Cowen lowered TotalEnergies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank reduced their price target on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, UBS Group upgraded TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.75.

TotalEnergies Stock Up 0.6 %

TotalEnergies stock opened at $60.85 on Friday. TotalEnergies has a 12 month low of $58.46 and a 12 month high of $74.97. The stock has a market capitalization of $143.69 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88. The business has a 50 day simple moving average of $65.47 and a 200-day simple moving average of $67.89.

About TotalEnergies

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.