Europe risks losing its biggest oil companies to America [CNN]
TotalEnergies SE (TTE)
Company Research
Source: CNN
Britain's Shell ( SHEL ) is the second-largest company on London's FTSE 100 index, representing 8.4% of its total market capitalization, while France's TotalEnergies ( TTE ) is the fourth-largest on the CAC 40 index, accounting for 6% of its value. Despite their local heavyweight status, both have recently expressed frustration with the low value of their stock compared with US oil majors, and floated the idea of moving the listing of their shares across the pond. Shares of TotalEnergies and Shell trade on a price-to-cash flow ratio of 4.7 and 5.2 respectively, compared with a ratio of 8.4 for Exxon Mobil ( XOM ) and 7.6 for Chevron ( CVX ). The lower the ratio, the more likely a stock is undervalued. Alastair Syme, managing director of global energy equity research at Citi, says Shell and TotalEnergies have long traded at a discount. But that gap reached its widest point around two years ago, reflecting a broader divergence between European and US stocks. Ad Feedback Compa
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- TotalEnergies SE: Information Concerning the Total Number of Voting Rights and Shares in the Share Capital as at April, 30 2024Business Wire
TTE
Earnings
- 4/26/24 - Beat
TTE
Sec Filings
- 5/17/24 - Form SD
- 5/2/24 - Form 6-K
- 4/29/24 - Form F-3ASR
- TTE's page on the SEC website