TotalEnergies refining and chemicals sector is involved in refining petrochemicals, including olefins and aromatics; and polymer derivatives, such as polyethylene, polypropylene, polystyrene, and hydrocarbon resins, as well as biomass conversion and elastomer processing. This segment also engages in trading and shipping crude oil and petroleum products. Its marketing and services group produces and sells lubricants; supplies and markets petroleum products, including bulk fuel, aviation and marine fuel, special fluids, compressed natural gas, LPG, and bitumen; and provides fuel payment solutions. It operates about 15,500 service stations.
Investors are paid a massive 4.66% dividend. BofA Securities has a Buy rating and a huge $92 price target. The consensus target for the stock is posted much lower at $71.71. The shares closed trading Tuesday at $60.07.
Given the shaky geo-political state of the world we decided to focus on the mega-cap domestic and foreign-sector leaders. Needless to say, if the current administration doesn’t pivot at some point on the over-regulation and energy policy mistakes, the current supply situation will likely get worse. Now is a good time to stay with mega-cap energy leaders, especially after the recent selling.
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