TotalEnergies: Strong start
Shares of the French energy giant TotalEnergies are starting the new trading week with a gain. The relief from the tariff agreement between the European Union and the United States is clearly noticeable. Oil prices are also benefiting from this. The price of a barrel of North Sea Brent crude rose slightly to $68.73.
The US WTI crude rose 23 cents to $65.39. The EU and the US have reached an agreement in principle to defuse the tariff conflict that has been ongoing for months. This happened before the deadline set by Trump for August 1st. Reactions in the oil market were limited. Ultimately, an agreement with China and other countries is still pending.
US Treasury Secretary Scott Bessent and high-ranking Chinese officials are meeting in Stockholm this Monday and Tuesday. A trade agreement could support global economic growth and thus also demand for crude oil. Financial markets are looking to the OPEC+ oil alliance. A committee will assess the oil market situation this Monday. On Sunday, the alliance will then discuss production volumes for September. A further increase is expected.
Meanwhile, US bank JPMorgan lowered its price target for TotalEnergies shares from €64.00 to €60.00 and maintained its "Overweight" rating. Matthew Lofting stated that second-quarter earnings per share met expectations, but the stock was weighed down by the continued increase in net debt.
TotalEnergies shares are attractively valued and therefore remain attractive. Meanwhile, this dividend-paying stock (current yield: six percent) has recently performed relatively steadily in a persistently difficult market environment. The stop price should be maintained at €41.00.
Note on conflicts of interest:
The CEO and majority shareholder of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has directly and indirectly entered into positions in the following financial instruments or derivatives related to them mentioned in the publication, which may benefit from any price development resulting from the publication: TotalEnergies.
Contains material from dpa-AFX
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