Search
EN Down
Language
Hi, user_no_name
Live Chat

CEO says TotalEnergies listing may move to New York stock markets

 

Oil giant TotalEnergies may move shares to the U.S. in search of higher valuation 

The CEO of French oil giant TotalEnergies has indicated the company is considering relocating its primary stock market listing to New York to potentially capitalize on the higher valuations enjoyed by its American counterparts. 

 In a recent interview with Bloomberg News, TotalEnergies Chairman and CEO Patrick Pouyanne said: 

“We are facing a situation where European shareholders, either they sell or maintain, and U.S. shareholders are buying. So what is most convenient for U.S. shareholders? Do they prefer to have the shares being primarily listed in New York or in Europe? I think when you ask the question, you have the answer”. 

This follows similar statements from Shell's CEO Wael Sawan regarding a potential move of its primary listing to the U.S.  

FactSet data cited by MarketWatch reveals that European integrated oil companies typically hold lower valuations compared to their U.S. rivals. 

 

Calculate your Commodities profit

Calculate your hypothetical required margin for a Commodities position, if you had opened it now.

Category

Metals Search
Metals
Energy
Softs

Instrument

Search
Clear input

Entry price

Exit price

Open date

Close date

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down

Spread

-

Conversion Fee

$-

Overnight Swaps

$-

Commission

$-

P/L

$-
"displayed in symbol currency"

P/L

$-
"displayed in account currency"

Current conversion price:

-
Start Trading

Past performance is not a reliable indicator of future results.

 

Citi says move to U.S. doesn’t guarantee higher valuation for TotalEnergies 

However, analysts from Citi note that a move to the U.S. market does not guarantee an immediate valuation increase for TotalEnergies, suggesting that the company's current valuation discount might be related to its significant profits in refining. 

In its latest Q1 report on Friday, TotalEnergies announced a 3% increase in first-quarter net income to €5.72 billion. Adjusting for factors such as the sale of parts of its retail network in Belgium, Luxembourg, and the Netherlands, profits dipped 22% to €5.11 billion. The company attributed the decline to decreasing gas prices and refining margins. 

Production decreased by 2%, affected by the disposal of Canadian oil sands assets and natural field declines, despite new projects coming online in Brazil, Oman, Norway, and Azerbaijan. 

TotalEnergies confirmed it would maintain its capital expenditure at between $17 billion and $18 billion and announced plans for $2 billion in stock buybacks for the second quarter. 

 

RBC says TotalEnergies Q2 production forecasts softer than expected

 

RBC says TotalEnergies Q2 production forecasts softer than expected 

RBC Capital Markets analysts noted that the results slightly exceeded market expectations — although production forecasts for the coming quarter were somewhat weaker than anticipated. 

At the time of writing on Friday, April 26, TotalEnergies stock listed on Euronext Paris tradedup 1.18% at €68.86. The company’s Paris-listed stock has gained close to 12% so far this year.  

The company’s American depositary receipts (ADRs) on the NYSE were up by 0.54% in premarket hours, trading around the $74.15 mark. 

The TotalEnergies market cap last stood at €168 billion ($180 billion), as per MarketWatch data.  

 


When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.  

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. 

Latest news

Broadcom stock split set for mid-July after earnings beat

Thursday, 13 June 2024

Indices

Broadcom stock split set for mid-July after earnings beat

Federal Reserve anticipates only one interest rate cut this year

Thursday, 13 June 2024

Indices

Federal Reserve forecasts only one interest rate cut in 2024

Soft May US inflation reading welcome news for Federal Reserve

Wednesday, 12 June 2024

Indices

May’s softer US inflation data keeps Fed cut hopes alive

Macron calls snap election, riles markets

Wednesday, 12 June 2024

Indices

Markets riled up with Macron gamble, France's left tail risk

Live Chat