Should You Still Consider Investing in TotalEnergies (TTE)?

Tweedy, Browne, an investment management firm, released its first quarter 2023 investor letter, a copy of which can be downloaded here. Tweedy, Browne has entered into a voluntary agreement, whereby they will waive the fees associated with the International Value Fund whenever the Fund’s average daily net assets (“ADNA”) surpass the threshold of $6 billion. The performance of the Fund would have been lower if fees were not waived during specific periods. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q1 2023 investor letter, Tweedy, Browne mentioned TotalEnergies SE (NYSE:TTE) and explained its insights for the company. Founded in 1924, TotalEnergies SE (NYSE:TTE) is a Courbevoie, France-based petroleum business company with a $144.5 billion market capitalization. TotalEnergies SE (NYSE:TTE) delivered a -5.33% return since the beginning of the year, while its 12-month returns are up by 17.17%. The stock closed at $58.77 per share on June 21, 2023.

Here is what Tweedy, Browne has to say about TotalEnergies SE (NYSE:TTE) in its Q1 2023 investor letter:

“The Funds received very little in the way of return contributions from many of their financial, energy, media, and healthcare holdings. On the energy front, the Funds’ one significant oil & gas holding, the French oil giant, TotalEnergies SE (NYSE:TTE), finished the quarter down modestly as oil prices continued to drift lower during the quarter.”

Copyright: 1971yes / 123RF Stock Photo

Our calculations show that TotalEnergies SE (NYSE:TTE) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. TotalEnergies SE (NYSE:TTE) was in 19 hedge fund portfolios at the end of the first quarter of 2023, compared to 21 funds in the previous quarter. TotalEnergies SE (NYSE:TTE) delivered a 3.00% return in the past 3 months.

Earlier this year, we also discussed TotalEnergies SE (NYSE:TTE) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q1 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.