JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com -- TotalEnergies (NYSE:TTE) (EPA:TTEF) delivered a second-quarter trading update that aligned with expectations, confirming segment net operating income of $4.5 billion, in line with Visible Alpha consensus.
Upstream production is expected at 2.50 million barrels of oil equivalent per day, around the midpoint of guidance and close to consensus. Realized liquids prices came in stronger than expected at $65.6 per barrel, while gas prices were weaker at $5.6 per mmbtu.
In Integrated LNG, the average realized price was $9.1 per mmbtu, slightly below forecasts, with gas trading impacted by low volatility. Integrated Power earnings are seen between $500–550 million, in line with estimates.
"The company didn’t provide comments around cash flow items such as WC, which suggests we shouldn’t see any material impact in the quarter," Jefferies analysts commented in a note.
Refining and Chemicals benefited from a European margin of $35.3 per tonne, beating internal forecasts but slightly below consensus. Refining utilization was higher, while Marketing & Services results are expected to match last year’s Q2 level.
Total Energies is set to report full Q2 results on July 24.