Sector Update: Energy Stocks Softer Late Afternoon
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Energy Sector Performance: Energy stocks saw a decline, with the NYSE Energy Sector Index down 0.8% and crude oil prices dropping; US crude oil stocks fell by 100,000 barrels, while natural gas futures rose by 1.4%.
Corporate Developments: Dominion Energy received a 20-year license extension for its North Anna Power Station, TotalEnergies faced a $48 million fine, and Texas Pacific Land completed acquisitions in the Permian Basin, boosting its shares by 1.6%.
Analyst Views on TTE
Wall Street analysts forecast TTE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TTE is 68.49 USD with a low forecast of 62.50 USD and a high forecast of 81.52 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
2 Buy
6 Hold
0 Sell
Hold
Current: 65.670
Low
62.50
Averages
68.49
High
81.52
Current: 65.670
Low
62.50
Averages
68.49
High
81.52
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
