15.9 C
New York
Wednesday, June 16, 2021

Total SE (TOT): Has the oil and gas industry had a worse year than 2020?

After a turbulent financial year that saw oil prices decline amid a widespread coronavirus pandemic, Total SE (NYSE: TOT) announced a massive drop in profits for 2020.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored




Many factors can contribute to the 2020 oil price collapse, including the COVID-19 pandemic. A big factor in this situation deteriorating even further is the price war between Saudi Arabia and Russia that broke out on March 4 in response to the collapse of the OPEC+ agreement.


According to Refinitiv, Total SE’s 2020 net profit exceeded expectations by $3.86 billion, topping the industry’s estimates by $406 billion. Compared to the $11.8 billion in the fiscal year 2019, this represents a drop of 66% on an annual basis.


Also, for the fourth quarter, Total’s net profit was $1.3 billion, beating analysts’ expectations of $1.1 billion. After plummeting more than 28% last year, its shares are up 0.8% so far this year. As a result of the pandemic, the oil and gas industry suffered a drastic drop in demand, falling prices, and tens of thousands of job losses last year.

Total SE (NYSE: TOT) performance over the last year stands at 3.82%, with its performance over the last seven days stands at 3.35%. It is down -5.80% in the one month and up 34.12% over the three months. The stock’s performance over the past six months was 11.74%. Their 52-week performance was -11.94%.


Now let’s look at the analyst rating. The Wall Street Journal reports that the 28 brokerage firms currently monitoring Total SE (NYSE: TOT) performance compared to its rivals received an estimated Overweight proposal. The stock was rated as a sell-by 0 analysts. And hold by 11, purchase by 16, an overweight by 1, and underweight by 0 analysts. The average price target between the banks and credit unions last year that talked about the stock is $52.94.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.