DAVENPORT & Co LLC Sells 28,685 Shares of TotalEnergies SE Sponsored ADR $TTE

DAVENPORT & Co LLC decreased its holdings in shares of TotalEnergies SE Sponsored ADR (NYSE:TTE) by 19.4% during the second quarter, Holdings Channel.com reports. The firm owned 118,949 shares of the company’s stock after selling 28,685 shares during the period. DAVENPORT & Co LLC’s holdings in TotalEnergies were worth $9,251,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TTE. Amundi purchased a new position in shares of TotalEnergies in the 1st quarter worth $18,868,822,000. Vanguard Group Inc. purchased a new stake in shares of TotalEnergies during the 4th quarter valued at about $5,337,330,000. Capital International Investors raised 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 buying an additional 49,245,192 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of TotalEnergies in the 4th quarter valued at about $1,982,676,000. Finally, Norges Bank purchased a new position in TotalEnergies in the fourth quarter worth about $1,917,626,000. Institutional investors own 16.53% of the company’s stock.

TotalEnergies Stock Performance

Shares of NYSE:TTE opened at $87.61 on Thursday. The company has a market capitalization of $210.06 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.10 and a beta of 0.14. TotalEnergies SE Sponsored ADR has a 12 month low of $57.39 and a 12 month high of $94.17. The firm’s 50-day moving average is $82.98 and its 200 day moving average is $84.16. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38.

TotalEnergies (NYSE:TTE) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $2.68 earnings per share (EPS) for the quarter. The business had revenue of $57.10 billion during the quarter. TotalEnergies had a net margin of 8.29% and a return on equity of 15.66%. Research analysts predict that TotalEnergies SE Sponsored ADR will post 10.65 EPS for the current year.

Analyst Ratings Changes

TTE has been the topic of several analyst reports. Scotiabank boosted their price objective on TotalEnergies from $73.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. TD Cowen lifted their target price on TotalEnergies from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings raised TotalEnergies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Wall Street Zen lowered TotalEnergies from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Morgan Stanley restated an “overweight” rating on shares of TotalEnergies in a report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

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.