Stock Traders Buy Large Volume of Call Options on TotalEnergies (NYSE:TTE)

TotalEnergies SE (NYSE:TTE) was the target of some unusual options trading on Thursday. Stock investors acquired 5,225 call options on the company. This is an increase of 155% compared to the typical volume of 2,048 call options.

TotalEnergies Stock Performance

TotalEnergies stock traded up $0.40 during midday trading on Thursday, hitting $65.27. 669,390 shares of the company were exchanged, compared to its average volume of 1,515,147. TotalEnergies has a fifty-two week low of $53.29 and a fifty-two week high of $74.97. The firm has a market capitalization of $156.48 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The business has a fifty day simple moving average of $60.74 and a two-hundred day simple moving average of $61.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.10.

TotalEnergies (NYSE:TTE) last posted its earnings results on Wednesday, February 5th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.16. TotalEnergies had a net margin of 7.34% and a return on equity of 15.22%. On average, sell-side analysts forecast that TotalEnergies will post 8.02 earnings per share for the current year.

Institutional Investors Weigh In On TotalEnergies

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in TotalEnergies by 121.1% during the fourth quarter. Bank of America Corp DE now owns 7,648,225 shares of the company’s stock worth $416,828,000 after purchasing an additional 4,189,652 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of TotalEnergies during the 4th quarter worth approximately $156,044,000. Franklin Resources Inc. lifted its position in shares of TotalEnergies by 41.7% during 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 in the last quarter. Northern Trust Corp increased its holdings in TotalEnergies by 41.7% in the 4th quarter. Northern Trust Corp now owns 1,783,017 shares of the company’s stock worth $97,174,000 after acquiring an additional 524,314 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in TotalEnergies by 295.3% during the fourth quarter. BNP Paribas Financial Markets now owns 689,494 shares of the company’s stock worth $37,577,000 after acquiring an additional 515,088 shares during the period. 16.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TTE shares. Redburn Atlantic upgraded TotalEnergies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised shares of TotalEnergies from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Morgan Stanley restated an “equal weight” rating and set a $64.10 target price (down previously from $70.40) on shares of TotalEnergies in a report on Tuesday, January 7th. Piper Sandler reduced their price target on TotalEnergies from $77.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, BNP Paribas downgraded TotalEnergies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, TotalEnergies presently has an average rating of “Moderate Buy” and a consensus price target of $72.42.

TotalEnergies Company Profile

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.