TotalEnergies SE (NYSE:TTE) on Tuesday announced the start of production from Angola’s Quiluma offshore gas field, its first non-associated gas development.

The project is expected to produce about 330 million cubic feet per day, supplying the Angola LNG plant and supporting exports to Europe and Asia.

The company holds an 11.8% stake in the project, alongside Azule Energy, which operates the field with a 37.4% interest. Other partners include Cabinda Gulf Oil Company with 31% and Sonangol E&P with 19.8%.

Disruptions Amid Middle East Conflict

On Friday, TotalEnergies said escalating Middle East tensions have forced the shutdown or pending shutdown of operations in Qatar, Iraq, and the UAE offshore fields, affecting about 15% of its global production.

Separately, the company last week introduced temporary pump-price caps across France to shield consumers from volatility in diesel and gasoline markets.

Technical Analysis

TTE is trading 6.8% above its 20-day simple moving average (SMA) and 22.9% above its 100-day SMA, keeping the uptrend intact across both short- and intermediate-term timeframes. Shares are up 32.30% over the past 12 months and are positioned closer to their 52-week highs than lows after pushing beyond the prior 52-week high of $83.70.

Momentum is stretched: RSI is at 70.67, which is in overbought territory after first moving above 70 on 2026-03-13. Meanwhile, MACD is still constructive with the MACD at 2.2216 above the signal line at 2.1441 (histogram 0.0775), suggesting upside momentum remains in place even if the stock pauses.

The combination of overbought RSI (above 70) and bullish MACD suggests mixed momentum.

  • Key Resistance: $85.00
  • Key Support: $76.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the April 29, 2026 (estimated) earnings report.

  • EPS Estimate: $1.78 (Down from $1.83 YoY)
  • Revenue Estimate: $43.83 Billion (Down from $52.25 Billion YoY)
  • Valuation: P/E of 14.3x (Indicates value opportunity relative to peers)

Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $70.40. Recent analyst moves include:

  • Piper Sandler: Neutral (Raises Target to $92.00) (Mar. 12)
  • JP Morgan: Upgraded to Overweight (Mar. 2)
  • TD Cowen: Hold (Raises Target to $70.00) (Jan. 22)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for TotalEnergies SE, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Bullish (Score: 85.1/100) — The stock is showing strong relative strength, consistent with its push toward fresh highs.
  • Value: Bullish (Score: 88.12/100) — The valuation profile screens attractively versus many peers, which can help support dips if energy prices soften.

The Verdict: TotalEnergies SE’s Benzinga Edge signal reveals a momentum-driven story that’s still backed by a value-leaning setup. With both Momentum and Value scoring strong, pullbacks toward trend support tend to be the key area traders watch rather than chasing strength at the top of the range.

Top ETF Exposure

  • SPDR DJ Euro STOXX 50 Etf (NYSE:FEZ): 2.86% Weight
  • State Street SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight

Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

TTE Price Action: TotalEnergies shares were up 2.26% at $84.73 during premarket trading on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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