TotalEnergies (NYSE:TTE) Shares Gap Down - Here's What Happened

TotalEnergies SE (NYSE:TTE - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $68.11, but opened at $65.08. TotalEnergies shares last traded at $64.86, with a volume of 376,903 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays upgraded shares of TotalEnergies to a "strong-buy" rating in a research report on Wednesday, October 2nd. TD Cowen downgraded TotalEnergies from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 30th. Wolfe Research started coverage on TotalEnergies in a research report on Thursday, July 18th. They issued an "outperform" rating and a $87.00 price objective for the company. Scotiabank reduced their target price on TotalEnergies from $80.00 to $75.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Finally, The Goldman Sachs Group raised shares of TotalEnergies to a "hold" rating in a research note on Thursday, October 3rd. Five equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.75.

TotalEnergies Trading Down 5.0 %

The firm has a market cap of $152.86 billion, a PE ratio of 7.31, a PEG ratio of 1.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 0.87. The business has a 50-day moving average price of $67.85 and a two-hundred day moving average price of $69.40.

TotalEnergies (NYSE:TTE - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.13). The business had revenue of $53.74 billion for the quarter, compared to analysts' expectations of $60.45 billion. TotalEnergies had a net margin of 9.49% and a return on equity of 17.92%. During the same quarter last year, the business posted $1.99 earnings per share. Analysts forecast that TotalEnergies SE will post 8.34 EPS for the current year.

Institutional Investors Weigh In On TotalEnergies

A number of large investors have recently bought and sold shares of the stock. North Star Investment Management Corp. increased its position in TotalEnergies by 310.0% during the 1st quarter. North Star Investment Management Corp. now owns 410 shares of the company's stock worth $28,000 after purchasing an additional 310 shares in the last quarter. Larson Financial Group LLC raised its position in shares of TotalEnergies by 100.5% in the second quarter. Larson Financial Group LLC now owns 423 shares of the company's stock valued at $28,000 after buying an additional 212 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of TotalEnergies during the first quarter valued at approximately $29,000. Creekmur Asset Management LLC acquired a new stake in TotalEnergies during the fourth quarter worth approximately $31,000. Finally, Boit C F David purchased a new stake in TotalEnergies in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 13.22% of the company's stock.

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.