TotalEnergies Shares Stagnate After Nearly 5% Decline Over a Month
The French oil major is trending upwards in mid-afternoon trading, buoyed by a rebound in crude oil prices fueled by tensions in the Middle East. The stock is attempting to stabilize after a challenging week, with short-term moving averages remaining above the price.
The Stock Recovers in the Wake of Brent Crude Rising Above $93
TotalEnergies shares are up 0.45% at €75.52 during the session, while the CAC 40 is up 0.43%. This movement follows Brent crude's rebound of nearly 1.5% to around $93.20 per barrel, driven by a new military escalation between Israel and Hezbollah and ongoing tensions with Iran.
Fears of disruptions in the Strait of Hormuz are reviving a geopolitical risk premium in the energy markets.
However, today's rebound is modest on a weekly scale, with the stock down nearly 4% over seven days after dropping close to 3% in the session on May 27, a day when the barrel plummeted by 5%. Nevertheless, the company is still up more than 12% over three months and has gained 46% over a year, supported by generally well-oriented crude oil prices and a record quarter published at the end of April.
Short-Term Moving Averages Yet to Be Reclaimed
The stock is trading below its MM20 (€77.81, a gap of -2.94%) and MM50 (€77.64, a gap of -2.73%), two technical thresholds that today's rebound has yet to overcome. The MM200 at €62.12 remains well below, indicating a long-term upward trend (a gap of +21.57%). The RSI at 41 is in a neutral zone, without any marked exhaustion signals in either direction. Based on the consensus of analysts surveyed, the stock is trading at approximately 7.8 times the earnings expected for the current fiscal year.
In corporate news, the group launched a capital increase reserved for employees at €62 at the end of May, and has extended its price cap into June (€1.99/L for gasoline, €2.25/L for diesel). The trajectory of Brent crude will remain crucial in the short term, in a context where the IEA projects a global demand of 104 Mb/d by 2026 and where OPEC+ supply stood at 34.13 Mb/d in April.
