On July 27, Total SA fell 3.13% in pre-market trading to $83.97/share, with turnover of $35,600.
On the news front, TotalEnergies announced it is appealing the June 25 climate case ruling, reigniting judicial uncertainty around the company's environmental liabilities. Simultaneously, the integrated oil and gas sector faced broad-based selling pressure, with Exxon Mobil down 2.83%, Chevron down 2.58%, Occidental down 3.49%, and Suncor down 3.51%.
Adding to the headwinds, Q2 earnings released on July 23 showed adjusted EPS of $2.68, missing the consensus estimate of $2.71, while revenue of $61.77 billion fell short of the $69.15 billion expectation. Management noted that natural gas trading performance was weaker than anticipated, as traders had expected rising prices that failed to materialize. Despite adjusted net income surging 68% year-over-year to $6.03 billion and net debt declining by $3.3 billion, the combination of sector weakness, litigation risk, and a top-line miss weighed on sentiment.
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