TotalEnergies SE (NYSE:TTE) shares are trading higher in Monday’s premarket session, outperforming a weaker broader market as energy stocks gain traction. Nasdaq futures are down 0.61%, while S&P 500 futures have also slipped 0.61%.
Offshore Congo Hydrocarbon Discovery
On Monday, the company reported a hydrocarbon discovery on the Moho license offshore the Republic of the Congo, following drilling of the MHNM-6 NFW well targeting the Moho G structure.
The well encountered a hydrocarbon column of roughly 160 meters in the Albian reservoirs. Together with a prior discovery at Moho F, the find is estimated to hold nearly 100 million barrels of recoverable resources.
TotalEnergies plans to develop the reserves through a tie-back to existing Moho infrastructure, enabling faster and more cost-efficient production.
TotalEnergies EP Congo operates the license with a 63.5% stake, alongside Trident Energy (21.5%) and Société Nationale des Pétroles du Congo (15%). Current production from existing facilities stands at approximately 90,000 barrels of oil equivalent per day.
Betting on Asia’s Clean Energy Growth
Earlier this month, the company unveiled a major clean energy partnership to expand its footprint across Asia.
The French energy giant is forming a $2.2 billion, 50/50 joint venture with Abu Dhabi Future Energy Company PJSC (Masdar), combining their onshore renewable portfolios across nine countries.
The venture will deliver about 3 gigawatts (GW) of operational capacity and advance another 6 GW in development, with projects set to come online by 2030.
TTE at $93.12; RSI 68.22
The broader market saw declines on Friday, with the S&P 500 falling 0.58% and the Nasdaq dropping 0.68%. TotalEnergies’ gains come as the energy sector outperformed, rising 2.25%, indicating that the stock is moving in line with positive sector trends despite a generally bearish market.
At $93.12, the stock is trading 4.2% above its 20-day simple moving average (SMA) of $89.24, suggesting a strong short-term trend. Additionally, it is 25.8% above its 100-day SMA of $73.91, indicating solid intermediate momentum.
The relative strength index (RSI) currently stands at 68.22, which is approaching overbought territory, suggesting that the stock may be experiencing strong buying pressure.
- Key Resistance: $93.50 — This level may act as a barrier for further upward movement.
- Key Support: $76.50 — A drop to this level could indicate a reversal in trend.
TTE Earnings April 29, 2026; EPS $2.01
TotalEnergies is slated to provide its next financial update on April 29, 2026 (confirmed).
- EPS Estimate: $2.01 (Up from $1.83)
- Revenue Estimate: $45.60 Billion (Down from $52.25 Billion)
- Valuation: P/E of 16.0x (Indicates fair valuation)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $70.72. Recent analyst moves include:
- Piper Sandler: Neutral (Raises Target to $92.00) (March 12)
- JP Morgan: Upgraded to Overweight (March 2)
- Freedom Broker: Downgraded to Sell (Maintains Target to $73.00) (February 13)
TTE Edge: Value 87.74; Momentum 91.2
Below is the Benzinga Edge scorecard for TotalEnergies, highlighting its strengths and weaknesses compared to the broader market:
- Value Rank: 87.74 — The stock is considered a strong value relative to peers.
- Growth Rank: 51.95 — Indicates moderate growth potential.
- Momentum Rank: 91.2 — The stock is outperforming the broader market.
The Verdict: TotalEnergies SE’s Benzinga Edge signal reveals a strong value-oriented setup with robust momentum, suggesting that the stock is well-positioned for continued performance in the energy sector.
Top ETFs Hold TTE Up to 2.86%
- SPDR DJ Euro STOXX 50 ETF (NYSE:FEZ): 2.86% Weight
- SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight
- Invesco FTSE RAFI Developed Markets ex-US ETF (NYSE:PXF): 1.36% Weight
Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
TTE Stock Price Activity: TotalEnergies shares were up 0.70% at $93.30 during premarket trading on Monday, according to Benzinga Pro data.
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