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

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

TotalEnergies Price Performance

TTE stock opened at $60.85 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.10 and a quick ratio of 0.88. The business has a 50 day simple moving average of $65.47 and a 200-day simple moving average of $67.89. The firm has a market capitalization 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. TotalEnergies has a 1 year low of $58.46 and a 1 year high of $74.97.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TTE. TD Cowen lowered TotalEnergies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 30th. The Goldman Sachs Group upgraded TotalEnergies to a “hold” rating in a research note on Thursday, October 3rd. 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 note on Thursday, October 10th. UBS Group upgraded TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Barclays upgraded TotalEnergies to a “strong-buy” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.75.

Institutional Investors Weigh In On TotalEnergies

A number of large investors have recently made changes to their positions in TTE. Barclays PLC lifted its holdings in TotalEnergies by 266.5% in the third quarter. Barclays PLC now owns 674,154 shares of the company’s stock valued at $43,564,000 after acquiring an additional 490,187 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in TotalEnergies by 6,367.4% in the third quarter. International Assets Investment Management LLC now owns 367,607 shares of the company’s stock valued at $23,755,000 after acquiring an additional 361,923 shares during the last quarter. FMR LLC lifted its stake in TotalEnergies by 2.7% during the third quarter. FMR LLC now owns 12,445,228 shares of the company’s stock worth $804,211,000 after purchasing an additional 324,033 shares in the last quarter. DRW Securities LLC lifted its stake in TotalEnergies by 134.5% during the third quarter. DRW Securities LLC now owns 64,209 shares of the company’s stock worth $4,149,000 after purchasing an additional 250,427 shares in the last quarter. Finally, Generate Investment Management Ltd acquired a new position in TotalEnergies during the second quarter worth $13,306,000. 13.22% of the stock is currently owned by hedge funds and other institutional investors.

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.