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

TotalEnergies SE (NYSE:TTE) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,110,000 shares, a decrease of 39.5% from the October 15th total of 6,790,000 shares. Based on an average daily trading volume, of 1,400,000 shares, the short-interest ratio is presently 2.9 days. Approximately 0.2% of the company’s shares are sold short.

Analyst Ratings Changes

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

TotalEnergies Stock Performance

Shares of TTE stock opened at $60.85 on Friday. The company’s fifty day moving average price is $65.47 and its 200-day moving average price is $67.89. The stock has a market cap of $143.69 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. TotalEnergies has a 12 month low of $58.46 and a 12 month high of $74.97.

Institutional Investors Weigh In On TotalEnergies

A number of hedge funds and other institutional investors have recently bought and sold shares of TTE. Gabelli Funds LLC increased its holdings in TotalEnergies by 5.5% in the 1st quarter. Gabelli Funds LLC now owns 309,200 shares of the company’s stock worth $21,282,000 after buying an additional 16,200 shares in the last quarter. National Bank of Canada FI grew its stake in shares of TotalEnergies by 25.7% in the first quarter. National Bank of Canada FI now owns 275,983 shares of the company’s stock worth $20,370,000 after acquiring an additional 56,403 shares during the period. Cetera Investment Advisers raised its holdings in shares of TotalEnergies by 105.0% during the first quarter. Cetera Investment Advisers now owns 215,737 shares of the company’s stock valued at $14,849,000 after purchasing an additional 110,497 shares during the last quarter. Pitcairn Co. bought a new position in TotalEnergies during the first quarter valued at approximately $592,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in TotalEnergies in the first quarter worth approximately $710,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.

TotalEnergies Company Profile

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.