HSBC Downgrades TotalEnergies (TTE) to Hold

TotalEnergies (TTEResearch Report) received a Hold rating from HSBC analyst Gordon Gray today. The company’s shares closed last Friday at $49.82.

According to TipRanks.com, Gray is a 1-star analyst with an average return of -3.7% and a 40.2% success rate. Gray covers the Utilities sector, focusing on stocks such as Exxon Mobil, Equinor ASA, and Chevron.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TotalEnergies with a $74.42 average price target.

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TotalEnergies’ market cap is currently $131.2B and has a P/E ratio of 8.23.

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Founded in 1924, France-based Total SE is an integrated oil and gas company, which produces and markets fuels, natural gas and low-carbon electricity. It is engaged in the exploration and production of oil and gas, refining, petrochemicals and the distribution of energy in various forms to end customers. The company operates through four business segments: Exploration & Production; Integrated Gas, Renewables & Power; Downstream (Refining & Chemicals and Marketing & Services).

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