Why Is TotalEnergies Stock Sliding Today?
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) shares are down premarket due to expected lower hydrocarbon production levels in Q3, despite higher gas prices and a $1 billion projection for Integrated LNG results. The company plans significant investments in low-carbon energies and has acquired stakes in offshore wind projects.
October 15, 2024 | 10:00 am
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NEGATIVE IMPACT
Advisor Managed Portfolios Miller Value Partners Appreciation ETF (MVPA) offers exposure to TotalEnergies, which is experiencing a premarket decline due to expected lower hydrocarbon production levels.
MVPA holds TotalEnergies, which is experiencing a decline due to lower expected production levels. This could negatively impact the ETF's performance in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Octane All-Cap Value Energy ETF (OCTA) includes TotalEnergies, which is facing a premarket decline due to expected lower hydrocarbon production levels.
OCTA holds TotalEnergies, which is experiencing a decline due to lower expected production levels. This could negatively impact the ETF's performance in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
TotalEnergies shares are down due to expected lower hydrocarbon production in Q3, despite higher gas prices and a $1 billion projection for Integrated LNG results. The company is investing heavily in low-carbon energies.
The stock is sliding due to anticipated lower hydrocarbon production levels in Q3, which is a significant concern for investors. Although higher gas prices and strong LNG results are positive, they are not enough to offset the negative sentiment. The company's focus on low-carbon investments is a long-term positive but does not alleviate short-term concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100