TotalEnergies SE (NYSE:TTE) Short Interest Down 24.3% in December

TotalEnergies SE (NYSE:TTE) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 4,330,000 shares, a drop of 24.3% from the December 15th total of 5,720,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,880,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTE. Piper Sandler lowered their target price on shares of TotalEnergies from $77.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded shares of TotalEnergies to a “hold” rating in a research report on Thursday, October 3rd. BNP Paribas downgraded shares of TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 27th. Barclays raised TotalEnergies to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded TotalEnergies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.42.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in shares of TotalEnergies in the third quarter worth approximately $26,000. Continuum Advisory LLC lifted its stake in shares of TotalEnergies by 70.4% during the 3rd quarter. Continuum Advisory LLC now owns 443 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Boit C F David bought a new position in TotalEnergies in the 3rd quarter worth $32,000. Maryland Capital Advisors Inc. purchased a new stake in TotalEnergies in the 3rd quarter worth $32,000. Finally, Eastern Bank bought a new stake in TotalEnergies during the third quarter valued at about $32,000. 16.53% of the stock is currently owned by institutional investors.

TotalEnergies Stock Performance

TotalEnergies stock traded up $0.30 during trading on Wednesday, reaching $57.86. The company had a trading volume of 1,355,517 shares, compared to its average volume of 1,861,969. The firm has a market capitalization of $136.63 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.93 and a beta of 0.61. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $57.20 and its 200 day simple moving average is $63.77. TotalEnergies has a 52 week low of $53.29 and a 52 week high of $74.97.

TotalEnergies Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.8308 per share. The ex-dividend date is Tuesday, December 31st. TotalEnergies’s payout ratio is currently 34.75%.

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.