TotalEnergies raised its dividend by 5.9% and doubled its share buyback target to $1.5 billion for the second quarter, following first-quarter earnings that exceeded expectations amid an oil rally driven by Middle East tensions. The French energy major had previously slowed buybacks and announced cost savings late last year, forecasting lower oil prices. CICC initiated coverage on June 23 with an Outperform rating and a €90 price target, implying over 32% upside. Antipodes Global Strategy noted in its first-quarter 2026 investor letter that elevated oil prices and constructive 2026 guidance, including expected production growth and rising LNG volumes, supported the stock.
TotalEnergies SETotalEnergies raised dividend by 5.9%, doubled buybacks to $1.5B, and reported earnings that exceeded expectations.
