Amova Asset Management Americas Inc. Increases Holdings in TotalEnergies SE Sponsored ADR $TTE

Amova Asset Management Americas Inc. increased its stake in TotalEnergies SE Sponsored ADR (NYSE:TTE) by 38.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,619 shares of the company’s stock after acquiring an additional 19,840 shares during the period. Amova Asset Management Americas Inc.’s holdings in TotalEnergies were worth $6,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aberdeen Group plc lifted its holdings in TotalEnergies by 14.5% during the 4th quarter. Aberdeen Group plc now owns 384,040 shares of the company’s stock worth $25,124,000 after buying an additional 48,640 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of TotalEnergies in the 4th quarter valued at about $122,831,000. Assetmark Inc. raised its position in shares of TotalEnergies by 8.1% during the 4th quarter. Assetmark Inc. now owns 246,475 shares of the company’s stock worth $16,124,000 after acquiring an additional 18,480 shares in the last quarter. Vanguard Group Inc. acquired a new stake in shares of TotalEnergies during the 4th quarter worth about $5,337,330,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TotalEnergies during the fourth quarter worth approximately $830,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on TTE shares. Morgan Stanley restated an “overweight” rating on shares of TotalEnergies in a research report on Tuesday, May 12th. Kepler Capital Markets upgraded shares of TotalEnergies from a “reduce” rating to a “hold” rating in a research note on Thursday, April 23rd. Scotiabank boosted their price target on shares of TotalEnergies from $73.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of TotalEnergies from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, CICC Research assumed coverage on TotalEnergies in a report on Tuesday, June 23rd. They set an “outperform” rating on the stock. Eleven 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.00.

TotalEnergies Stock Performance

Shares of TTE opened at $81.04 on Tuesday. 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 firm has a market cap of $194.31 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.90 and a beta of 0.14. The company’s 50 day simple moving average is $84.51 and its 200-day simple moving average is $81.70. TotalEnergies SE Sponsored ADR has a 12-month low of $57.39 and a 12-month high of $94.17.

TotalEnergies (NYSE:TTE) last issued its quarterly 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. TotalEnergies had a net margin of 7.43% and a return on equity of 14.01%. The firm had revenue of $49.52 billion during the quarter, compared to analysts’ expectations of $44.58 billion. As a group, equities analysts predict that TotalEnergies SE Sponsored ADR will post 10.56 EPS 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.