Glenmede Trust Co. NA Trims Stock Holdings in TotalEnergies SE Sponsored ADR $TTE

Glenmede Trust Co. NA lessened its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 56.3% in the first quarter, Holdings Channel.com reports. The firm owned 14,168 shares of the company’s stock after selling 18,245 shares during the period. Glenmede Trust Co. NA’s holdings in TotalEnergies were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Amundi acquired a new position in shares of TotalEnergies in the 1st quarter valued at approximately $18,868,822,000. Vanguard Group Inc. acquired a new stake in shares of TotalEnergies during the fourth quarter worth approximately $5,337,330,000. Capital International Investors increased its stake in shares of TotalEnergies by 1,438.5% in the fourth quarter. Capital International Investors now owns 52,668,676 shares of the company’s stock worth $3,435,988,000 after buying an additional 49,245,192 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of TotalEnergies by 21,398.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,380,511 shares of the company’s stock worth $2,641,693,000 after buying an additional 40,192,677 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new position in TotalEnergies during the 4th quarter worth $1,982,676,000. 16.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TTE. Wall Street Zen lowered shares of TotalEnergies from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. CICC Research initiated coverage on TotalEnergies in a research note on Tuesday, June 23rd. They issued an “outperform” rating for the company. Piper Sandler restated a “neutral” rating and set a $85.00 price objective on shares of TotalEnergies in a research note on Thursday, July 23rd. Scotiabank increased their target price on TotalEnergies from $73.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.14.

TotalEnergies Trading Down 0.7%

NYSE TTE opened at $84.63 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.06. TotalEnergies SE Sponsored ADR has a one year low of $57.39 and a one year high of $94.17. The company has a 50-day simple moving average of $83.13 and a 200-day simple moving average of $83.45. The firm has a market capitalization of $202.92 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.04 and a beta of 0.14.

TotalEnergies (NYSE:TTE) last issued its earnings results on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. The firm had revenue of $57.10 billion for the quarter. On average, equities analysts forecast that TotalEnergies SE Sponsored ADR will post 10.55 earnings per share 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.