Sound Shore Management Inc. CT Sells 36,473 Shares of TotalEnergies SE (NYSE:TTE)

Sound Shore Management Inc. CT cut its holdings in shares of TotalEnergies SE (NYSE:TTE) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,006,342 shares of the company’s stock after selling 36,473 shares during the period. TotalEnergies comprises approximately 2.2% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 29th biggest position. Sound Shore Management Inc. CT’s holdings in TotalEnergies were worth $67,103,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. 9258 Wealth Management LLC boosted its stake in shares of TotalEnergies by 18.8% during the fourth quarter. 9258 Wealth Management LLC now owns 3,894 shares of the company’s stock valued at $262,000 after purchasing an additional 616 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TotalEnergies by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 348,468 shares of the company’s stock worth $23,480,000 after purchasing an additional 2,959 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of TotalEnergies in the fourth quarter worth $232,000. Corient Private Wealth LLC increased its holdings in TotalEnergies by 0.6% in the fourth quarter. Corient Private Wealth LLC now owns 118,694 shares of the company’s stock valued at $7,998,000 after purchasing an additional 703 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in TotalEnergies by 10.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,787 shares of the company’s stock worth $188,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 13.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TTE shares. Wolfe Research started coverage on TotalEnergies in a research note on Thursday, July 18th. They issued an “outperform” rating and a $87.00 price objective on the stock. Scotiabank lowered their target price on shares of TotalEnergies from $86.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th.

TotalEnergies Trading Down 0.1 %

Shares of TTE stock opened at $69.06 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 1.11. The company has a market capitalization of $163.08 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 1.78 and a beta of 0.64. TotalEnergies SE has a 52-week low of $62.28 and a 52-week high of $74.97. The company has a 50-day simple moving average of $67.91 and a two-hundred day simple moving average of $69.31.

TotalEnergies (NYSE:TTE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.13). The company had revenue of $53.74 billion during the quarter, compared to analysts’ expectations of $60.45 billion. TotalEnergies had a return on equity of 17.92% and a net margin of 9.49%. During the same period last year, the firm posted $1.99 earnings per share. Research analysts anticipate that TotalEnergies SE will post 8.65 EPS for the current fiscal year.

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.