TotalEnergies SE ADR

$19.00

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SKU: TTE Category:

Description

TotalEnergies’ results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street. The company produced a healthy cash flow during the second quarter. Despite the described softening of the commodity situation, the company distributed $1.8 billion in ordinary integrated dividends and carried out $2 billion in buybacks during the second quarter. Operationally, TotalEnergies produced 2.47 million barrels of oil equivalent per day of oil and gas, an increase of 2% from the previous year, mainly to new project assets, including Johan Sverdrup Phase 2 in Norway, Ikike in Nigeria, Mero in Brazil, and Block 10 in Oman. The inclusion of SARB and Umm Lulu in the United Arab Emirates has also been advantageous for production. LNG sales were consistent at 11 million tonnes in the quarter, benefiting from the restart of Freeport LNG, but declined year on year due to weaker demand in Europe due to mild weather and high stockpiles. Integrated LNG achieved adjusted net operating income decreased due to lower LNG prices. Moreover, they acquired the remaining shares of Total Eren. The incorporation of Total Eren teams into TotalEnergies’ Renewables business segment is anticipated to enhance their market position. We give TotalEnergies SE a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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