Cullen Capital Management LLC Sells 135,399 Shares of TotalEnergies SE (NYSE:TTE)

Cullen Capital Management LLC lessened its stake in shares of TotalEnergies SE (NYSE:TTE) by 32.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 281,366 shares of the company’s stock after selling 135,399 shares during the period. Cullen Capital Management LLC’s holdings in TotalEnergies were worth $15,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of TotalEnergies in the fourth quarter worth $156,044,000. Franklin Resources Inc. increased its holdings in TotalEnergies by 41.7% in the 4th quarter. Franklin Resources Inc. now owns 5,685,348 shares of the company’s stock valued at $309,851,000 after buying an additional 1,672,387 shares during the period. Barclays PLC increased its holdings in TotalEnergies by 266.5% in the 3rd quarter. Barclays PLC now owns 674,154 shares of the company’s stock valued at $43,564,000 after buying an additional 490,187 shares during the period. Equity Investment Corp lifted its holdings in shares of TotalEnergies by 10.5% during the 4th quarter. Equity Investment Corp now owns 2,058,589 shares of the company’s stock worth $112,193,000 after acquiring an additional 196,277 shares during the period. Finally, LPL Financial LLC boosted its position in shares of TotalEnergies by 14.9% during the 4th quarter. LPL Financial LLC now owns 1,164,972 shares of the company’s stock worth $63,491,000 after acquiring an additional 151,336 shares in the last quarter. 16.53% of the stock is owned by institutional investors and hedge funds.

TotalEnergies Trading Down 6.9 %

Shares of TTE stock opened at $57.82 on Friday. TotalEnergies SE has a twelve month low of $53.29 and a twelve month high of $74.97. The stock’s fifty day simple moving average is $61.35 and its 200 day simple moving average is $60.98. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $138.64 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.98 and a beta of 0.45.

TotalEnergies (NYSE:TTE) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.16. TotalEnergies had a return on equity of 15.22% and a net margin of 7.34%. As a group, sell-side analysts predict that TotalEnergies SE will post 8.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TTE shares. Morgan Stanley restated an “equal weight” rating and set a $64.10 price objective (down from $70.40) on shares of TotalEnergies in a research report on Tuesday, January 7th. Piper Sandler decreased their price target on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup raised TotalEnergies from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, TotalEnergies currently has a consensus rating of “Moderate Buy” and an average target price of $72.42.

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.