TotalEnergies (NYSE:TTE) Shares Gap Up – Should You Buy?

TotalEnergies SE (NYSE:TTE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $62.12, but opened at $63.52. TotalEnergies shares last traded at $63.88, with a volume of 247,751 shares.

Wall Street Analysts Forecast Growth

TTE has been the topic of several recent research reports. Citigroup upgraded shares of TotalEnergies from a “neutral” rating to a “buy” rating in a report on Wednesday. Piper Sandler dropped their price objective on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Finally, Redburn Atlantic raised TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.42.

TotalEnergies Stock Performance

The business has a 50-day moving average price of $60.74 and a 200-day moving average price of $61.12. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $155.70 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.98 and a beta of 0.56.

TotalEnergies (NYSE:TTE) last announced its earnings results on Wednesday, February 5th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. As a group, sell-side analysts forecast that TotalEnergies SE will post 8.02 earnings per share for the current year.

Hedge Funds Weigh In On TotalEnergies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Creek Financial Management LLC acquired a new position in TotalEnergies during the 4th quarter valued at approximately $345,000. Logan Capital Management Inc. grew its holdings in shares of TotalEnergies by 22.8% during the third quarter. Logan Capital Management Inc. now owns 71,757 shares of the company’s stock valued at $4,637,000 after buying an additional 13,331 shares during the last quarter. FMR LLC increased its position in shares of TotalEnergies by 2.7% in the 3rd quarter. FMR LLC now owns 12,445,228 shares of the company’s stock valued at $804,211,000 after acquiring an additional 324,033 shares during the period. CWA Asset Management Group LLC raised its stake in TotalEnergies by 85.1% in the 4th quarter. CWA Asset Management Group LLC now owns 23,571 shares of the company’s stock worth $1,285,000 after acquiring an additional 10,835 shares during the last quarter. Finally, Barclays PLC lifted its position in TotalEnergies by 266.5% during the 3rd quarter. Barclays PLC now owns 674,154 shares of the company’s stock worth $43,564,000 after acquiring an additional 490,187 shares during the period. 16.53% of the stock is owned by hedge funds and other institutional investors.

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.