TotalEnergies SE (NYSE:TTE) Sees Large Decline in Short Interest

TotalEnergies SE (NYSE:TTE) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 4,330,000 shares, a drop of 24.3% from the December 15th total of 5,720,000 shares. Based on an average daily trading volume, of 1,880,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTE. Barclays raised shares of TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Scotiabank cut their price objective on TotalEnergies from $80.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $64.10 price objective (down previously from $70.40) on shares of TotalEnergies in a research note on Tuesday, January 7th. Finally, BNP Paribas cut shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.42.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. J2 Capital Management Inc purchased a new position in TotalEnergies during the 4th quarter valued at $314,000. HB Wealth Management LLC boosted its stake in shares of TotalEnergies by 50.9% during the fourth quarter. HB Wealth Management LLC now owns 15,481 shares of the company’s stock valued at $844,000 after purchasing an additional 5,219 shares during the period. Arkadios Wealth Advisors grew its holdings in shares of TotalEnergies by 16.3% in the fourth quarter. Arkadios Wealth Advisors now owns 9,828 shares of the company’s stock worth $536,000 after purchasing an additional 1,376 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of TotalEnergies during the fourth quarter worth approximately $138,000. Finally, Albert D Mason Inc. boosted its holdings in shares of TotalEnergies by 1.8% in the fourth quarter. Albert D Mason Inc. now owns 20,232 shares of the company’s stock valued at $1,103,000 after purchasing an additional 352 shares during the period. Hedge funds and other institutional investors own 16.53% of the company’s stock.

TotalEnergies Trading Up 0.5 %

NYSE TTE traded up $0.30 on Wednesday, hitting $57.86. 1,355,517 shares of the stock were exchanged, compared to its average volume of 1,861,969. TotalEnergies has a 52-week low of $53.29 and a 52-week high of $74.97. The firm has a market capitalization of $136.63 billion, a P/E ratio of 8.21, a P/E/G ratio of 1.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a fifty day moving average price of $57.20 and a two-hundred day moving average price of $63.77.

TotalEnergies Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a $0.8308 dividend. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s dividend payout ratio (DPR) is currently 34.75%.

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.