Korea Investment CORP Takes Position in TotalEnergies SE Sponsored ADR $TTE

Korea Investment CORP purchased a new stake in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,787,553 shares of the company’s stock, valued at approximately $116,705,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of TotalEnergies during the 4th quarter valued at $5,337,330,000. Capital International Investors grew its position in shares of TotalEnergies by 1,438.5% during the 4th quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock valued at $3,435,988,000 after purchasing an additional 49,245,192 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of TotalEnergies by 21,398.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock valued at $2,641,693,000 after purchasing an additional 40,192,677 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of TotalEnergies during the 4th quarter valued at $1,982,676,000. Finally, Norges Bank purchased a new position in shares of TotalEnergies during the 4th quarter valued at $1,917,626,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TTE. JPMorgan Chase & Co. upgraded shares of TotalEnergies from a “neutral” rating to an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. Weiss Ratings raised shares of TotalEnergies from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Zacks Research downgraded shares of TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Kepler Capital Markets raised shares of TotalEnergies from a “reduce” rating to a “hold” rating in a report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

TotalEnergies Stock Performance

Shares of NYSE:TTE opened at $88.08 on Friday. The company has a market cap of $211.19 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.97 and a beta of 0.12. The company has a 50-day moving average price of $90.26 and a 200-day moving average price of $79.07. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. 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 data on Wednesday, April 29th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.22 by $0.23. The firm had revenue of $49.52 billion during 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%. As a group, equities analysts anticipate that TotalEnergies SE Sponsored ADR will post 11.09 EPS for the current year.

TotalEnergies 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.