TotalEnergies, FR0000120271

TotalEnergies stock: TD Cowen cuts target from USD 108 to USD 105

Published on 10/21/2026 at 15:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter margin hit USD 33.20 per barrel versus USD 8.40. TotalEnergies stock costs EUR 80.70, up 0.99 percent versus Xetra close.

Analyst target and results date

TD Cowen cut its TotalEnergies target from USD 108 to USD 105 on October 13, 2026.
TotalEnergies reported a third-quarter refining margin of USD 33.20 per barrel versus USD 8.40 a year earlier.
TotalEnergies stock costs EUR 80.70 at Lang & Schwarz on October 21, 2026 at 3:06 p.m. CEST, 0.99 percent above the Xetra close of October 20, 2026.
TotalEnergies will present third-quarter results on October 29, 2026.

Bunte Comic-Illustration einer Tankstelle mit Bohrturm und Windrädern — Pop-Art-Comic mit Tankstelle, Bohrturm und Windrädern verbildlicht spielerisch das Energieportfolio von TotalEnergies SE, ISIN FR0000120271, Illustration mit AI erstellt.

TotalEnergies (ISIN FR0000120271) saw TD Cowen cut its price target from USD 108 to USD 105 on October 13, 2026, while keeping a Buy rating, as Investing.com reported. At Lang & Schwarz, the stock was trading at EUR 80.70 on October 21, 2026 at 3:06 p.m. CEST, up 0.99 percent versus the Xetra close of October 20, 2026 at EUR 79.91.

Refining margin reaches USD 33.20

The latest operating update points to a sharp improvement in downstream conditions. Reuters reported on October 15, 2026 that TotalEnergies expected a European refining margin of USD 33.20 per barrel in the third quarter, versus USD 13.50 in the second quarter and USD 8.40 in the third quarter of 2025. The company also expected refining and chemicals cash flow to rise by USD 2.00 billion from the second quarter.

Stock sits 1.14 percent below its high

TotalEnergies traded at EUR 80.70 against a 52-week range of EUR 52.40 to EUR 81.63 on October 21, 2026. The price was 1.14 percent below the high, while the current market capitalization stood at EUR 179.7 billion. Its year-to-date performance was not included in the same quotation record, so the price position remains the clearer short-term measure.

Valuation and October 29 results

TotalEnergies carried a price-to-earnings ratio of 11.39 on October 21, 2026. Its next scheduled reporting event is the third-quarter results presentation on October 29, 2026, listed on the TotalEnergies investor page.

Comparison with peers

TotalEnergies: up 0.99 percent, price-to-earnings ratio 11.39, market capitalization EUR 179.7 billion.

ExxonMobil (NYSE, USD): down 0.24 percent, price-to-earnings ratio 22.89, market capitalization USD 731.3 billion.

Chevron (NYSE, USD): up 0.60 percent, price-to-earnings ratio 21.64, market capitalization USD 446.0 billion.

What matters before results

The analyst revision and the operating indicators point to two separate investor reference points: valuation and quarterly execution. The October 29 release will show whether the USD 33.20 refining margin translated into the earnings and cash flow improvement signaled in the October 15 update. The stock remains 1.14 percent below its 52-week high, leaving the results date as the next concrete test of the current valuation.

TotalEnergies stock was trading at EUR 80.70 at Lang & Schwarz on October 21, 2026 at 3:06 p.m. CEST, up 0.99 percent versus the Xetra close of October 20, 2026 at EUR 79.91. The further course of trading is shown by the continuously updated real-time quote of TotalEnergies stock.