Financial Performance: TotalEnergies SE reported a 4% increase in cash flow and steady growth in adjusted net income for the third quarter, despite a drop in oil prices. The company also saw a significant increase in hydrocarbon production and downstream cash flow.
Shareholder Returns: The company increased its third interim dividend by nearly 8% in euros and over 10% in dollars compared to 2024, and authorized up to $1.5 billion in share buybacks for the fourth quarter of 2025.
Market Challenges: TotalEnergies faces potential tax challenges in France regarding share buybacks and heightened competition in the LNG market, which may impact trading profits. Additionally, the refining utilization rate is expected to be lower in the fourth quarter due to planned turnarounds.
Future Outlook: The company anticipates a strengthening balance sheet with gearing expected to decline to 15-16% by year-end, while also preparing for the implications of new EU regulations on Russian LNG imports and assessing the competitive landscape in the chemicals sector.
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 71.67 USD with a low forecast of 60.04 USD and a high forecast of 90.93 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.
16 Analyst Rating
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 71.67 USD with a low forecast of 60.04 USD and a high forecast of 90.93 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 Buy
8 Hold
0 Sell
Moderate Buy
Current: 67.070
Low
60.04
Averages
71.67
High
90.93
Current: 67.070
Low
60.04
Averages
71.67
High
90.93
TD Cowen
Hold
maintain
$65 -> $70
2026-01-22
New
Reason
TD Cowen
Price Target
$65 -> $70
AI Analysis
2026-01-22
New
maintain
Hold
Reason
TD Cowen raised the firm's price target on TotalEnergies to $70 from $65 and keeps a Hold rating on the shares. The firm updated the company's model post the Q4 indicators release. TD sees 2026 as a trough cash flow year for TotalEnergies.
Jefferies
Buy
to
Hold
downgrade
2025-12-12
Reason
Jefferies
Price Target
2025-12-12
downgrade
Buy
to
Hold
Reason
Jefferies downgraded Galp Energia (GLPEY) to Hold from Buy with a price target of EUR 15, down from EUR 21, citing "material reductions" to the firm's sum-of-the-parts and discounted cash flow valuations post-Namibia asset swap with TotalEnergies (TTE). Near-term refining margin offers Q4 earnings support, but the firm argues that Galp's "strategic, valuation & growth investment case has been materially set back" by the Mopane asset-swap read-across.
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Citi
Buy -> Neutral
downgrade
2025-12-09
Reason
Citi
Price Target
2025-12-09
downgrade
Buy -> Neutral
Reason
Citi downgraded Galp Energia to Neutral from Buy with a price target of EUR 15, down from EUR 23. The firm says the sale price of 40% of the company's Mopane asset to TotalEnergies (TTE) is lower than expected.
Piper Sandler
Ryan Todd
Neutral
maintain
$69 -> $70
2025-11-10
Reason
Piper Sandler
Ryan Todd
Price Target
$69 -> $70
2025-11-10
maintain
Neutral
Reason
Piper Sandler analyst Ryan Todd raised the firm's price target on TotalEnergies to $70 from $69 and keeps a Neutral rating on the shares. The firm says that although investor concern regarding the near-term outlook for crude oil is keeping sentiment muted for now, Q3 results continue to highlight the strong relative positioning of the group within energy. While consistent with longer-term trends, a few key takeaways remain clear, namely that free cash flow generation is resilient, headline growth remains relatively strong, and structural cost savings are gradually driving down breakeven, Piper adds.
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.
