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J.P. Morgan Sticks to Their Buy Rating for TotalEnergies SE (TTE)

Tipranks - Sat Aug 1, 1:10PM CDT

J.P. Morgan analyst Matthew Lofting maintained a Buy rating on TotalEnergies SE today and set a price target of €83.00.

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Lofting covers the Energy sector, focusing on stocks such as Shell (UK), BP p.l.c., and TotalEnergies SE. According to TipRanks, Lofting has an average return of -1.5% and a 50.35% success rate on recommended stocks.

In addition to J.P. Morgan, TotalEnergies SE also received a Buy from Bank of America Securities’s Christopher Kuplent in a report issued on July 24. However, on July 28, Piper Sandler maintained a Hold rating on TotalEnergies SE (LSE: TTE).

Based on TotalEnergies SE’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of €57.1 billion and a net profit of €5.44 billion. In comparison, last year the company earned a revenue of €44.68 billion and had a net profit of €2.69 billion

Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TTE in relation to earlier this year.

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