TotalEnergies SETTE
▲ PositiveSupplyCapitalrelevance
Brent crude above $90 and Middle East disruptions cut production, boosting oil prices and TotalEnergies' outlook.
Impact on stocks 1
Energy
TotalEnergies SETotalEnergies gained about 2% to $88.08 in U.S. trading Monday as Brent crude broke above $90, lifting energy stocks despite rising bond yields pressuring the broader European market. The company reported $9.8 billion in cash flow and $6 billion in adjusted net income for the second quarter, cut gearing to 13%, and raised its quarterly dividend 5.9% to 0.90 per share, a cash haul representing roughly 4.8% of its market value. However, shares trade 38.69% above the $63.51 GF Value estimate, indicating a hefty premium. Middle East disruptions cut average production by 210,000 barrels of oil-equivalent per day in the second quarter, and while higher crude helps, restoring output is key.
TotalEnergies SEBrent crude above $90 and Middle East disruptions cut production, boosting oil prices and TotalEnergies' outlook.