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Stock impact report

TotalEnergies rises on profit beat amid high oil prices, strong trading; shares up [Yahoo! Finance]

TotalEnergies SE Ordinary Shares (TTE) 
Company Research Source: Yahoo! Finance
high oil prices and strong trading activity linked to the Middle East conflict delivered a major earnings boost. Shares in the French energy major rose 1% in early trading in Paris by 07:22 GMT. The company reported adjusted net income of $5.4 billion for the quarter, up 29% from $4.2 billion a year earlier and ahead of the $5 billion analyst consensus, according to LSEG data. The result came even as regional disruptions shut in approximately 15% of its upstream production. TotalEnergies said it would resume share buybacks of up to $1.5 billion in the second quarter, doubling the pace from the $750 million rate it had cut to in February when lower oil prices weighed on results. It also raised its quarterly dividend by 5.9% to €0.90 per share Commenting on the results, Jefferies analyst Mark Wilson said the report was a "small positive." Earnings in the refining and chemicals segment, which houses the company's oil and petroleum products trading operations, more than quintu Show less Read more
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