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

TotalEnergies SE (NYSE:TTE) was the target of a significant decline in short interest during 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 company’s stock are short sold. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 2.9 days.

TotalEnergies Price Performance

NYSE:TTE opened at $60.85 on Friday. The stock has a fifty day moving average of $65.47 and a 200 day moving average of $67.89. TotalEnergies has a 52-week low of $58.46 and a 52-week high of $74.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a market capitalization of $143.69 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.92 and a beta of 0.64.

Analysts Set New Price Targets

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

Institutional Trading of TotalEnergies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in TotalEnergies during the third quarter valued at about $26,000. Continuum Advisory LLC lifted its stake in shares of TotalEnergies by 70.4% in the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the last quarter. Larson Financial Group LLC boosted its holdings in TotalEnergies by 100.5% during the 2nd quarter. Larson Financial Group LLC now owns 423 shares of the company’s stock valued at $28,000 after acquiring an additional 212 shares during the period. Pathway Financial Advisers LLC bought a new position in TotalEnergies during the 1st quarter worth approximately $29,000. Finally, Boit C F David purchased a new position in TotalEnergies in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors 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.