Oppenheimer & Co. Inc. Cuts Stake in TotalEnergies SE (NYSE:TTE)

Oppenheimer & Co. Inc. reduced its position in TotalEnergies SE (NYSE:TTE) by 10.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,632 shares of the company’s stock after selling 564 shares during the period. Oppenheimer & Co. Inc.’s holdings in TotalEnergies were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TTE. International Assets Investment Management LLC boosted its stake in shares of TotalEnergies by 6,367.4% during the third quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock valued at $23,755,000 after purchasing an additional 361,923 shares during the period. Generate Investment Management Ltd bought a new stake in TotalEnergies during the 2nd quarter valued at about $13,306,000. Mediolanum International Funds Ltd purchased a new stake in TotalEnergies in the 3rd quarter valued at about $11,504,000. Allspring Global Investments Holdings LLC grew its stake in TotalEnergies by 316.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 228,781 shares of the company’s stock worth $14,784,000 after acquiring an additional 173,810 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of TotalEnergies during the second quarter worth approximately $9,176,000. 13.22% of the stock is owned by hedge funds and other institutional investors.

TotalEnergies Trading Down 0.6 %

Shares of TTE stock opened at $59.66 on Friday. TotalEnergies SE has a twelve month low of $58.46 and a twelve month high of $74.97. The stock has a market cap of $140.88 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.97 and a beta of 0.64. The company’s 50-day moving average price is $64.82 and its 200-day moving average price is $67.50. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen downgraded TotalEnergies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. UBS Group upgraded TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 9th. Scotiabank dropped their target price on shares of TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group upgraded shares of TotalEnergies to a “hold” rating in a report on Thursday, October 3rd. Finally, Barclays upgraded shares of TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, TotalEnergies has a consensus rating of “Moderate Buy” and a consensus price target of $78.75.

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.