Why did TotalEnergies move?
Written after the close on
TotalEnergies rose in the last session, likely helped by higher oil prices after Trump's rejection of Iran. Over the last five trading days, TotalEnergies fell clearly, moving against a slightly higher S&P 500 and a slightly higher energy sector ETF, while Brent crude oil fell clearly, so the shares moved in line with oil. The decline was likely driven by a $5.2 billion Kazakhstan fine for alleged environmental abuses at the Kashagan field, and the shares also traded without their dividend last week, which takes about the dividend off the quoted price. The company approved final investment decisions for the Absheron gas field in Azerbaijan and the Ima gas field in Nigeria, and raised its fourth-quarter share buyback to $2.5 billion, while RBC said its business update showed continued cash flow growth. Watch the late-October earnings report next.
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History in plain words, not investment advice.