TTE

PARIS, October 15, 2026--(BUSINESS WIRE)--The main indicators, estimated financial information and key elements impacting TotalEnergies' (Paris:TTE) (LSE:TTE) (NYSE:TTE) third quarter 2026 aggregates are shown below: Main indicators | | | | 3Q26 | | 2Q26 | | 1Q26 | | 4Q25 | | 3Q25 €/$ | | | | 1.15 | | 1.16 | | 1.17 | | 1.16 | | 1.17 Brent | | ($/b) | | 97.0 | | 103.8 | | 81.1 | | 63.7 | | 69.1 TTF | | ($/Mbtu) | | 21.5 | | 15.6 | | 13.7 | | 10.3 | | 11.3 Average liquids price * (1) | | ($/b) | | 87.1 | | 91.6 | | 73.7 | | 61.4 | | 66.5 Average gas price * (1) | | ($/Mbtu) | | 7.00 | | 5.55 | | 5.59 | | 5.11 | | 5.50 Average LNG price ** (1) | | ($/Mbtu) | | 12.28 | | 10.20 | | 8.48 | | 8.48 | | 8.91 European Refining Margin Marker (ERM) *** | | ($/b) | | 33.2 | | 13.5 | | 11.4 | | 11.4 | | 8.4 * Sales in $ / Sales in volume for consolidated affiliates. ** Sales in $ / Sales in volume for consolidated and equity affiliates. *** This market indicator for European refining, calculated based on public market prices ($/b), uses a basket of crudes, petroleum product yields and variable costs representative of the European refining system of TotalEnergies. (1) Does not include oil, gas and LNG trading activities, respectively. Main elements impacting the 3rd quarter 2026 aggregates - Hydrocarbon production is expected to increase, reaching 2.45-2.50 Mboe/d, benefiting from a reduced impact of the Middle East conflict, which is estimated to be only around 5% of the Company's overall production. Excluding Middle East impact, the production is expected to grow more than 4% compared to the third quarter of 2025, above the annual guidance of 3%. - Exploration & Production results are expected to reflect production growth and the sensitivity to lower oil prices and higher gas prices compared to the previous quarter. - Integrated LNG results are expected to rise sharply, driven by the 20% increase of average LNG price since last quarter and by the outperformance of LNG and gas trading activities in a bull market, driven by the prolonged conflict in the Strait of Hormuz and expectation for strong winter demand. - Downstream results and cash flow are expected to reach exceptional levels, with a very sharp increase of $2 billion for Refining & Chemicals cash flow compared to the second quarter. The 10% refining throughput increase enabled the Company to fully capture historically high refining margins in Europe and worldwide. Oil trading activities continue to outperform on a level consistent with the previous two quarters. Marketing & Services is expected to also maintain its strong performance. - Integrated Power results and cash flow are expected to benefit from the expected contribution from TTEP (JV between EPH and TotalEnergies) over a full quarter, with a cash flow anticipated between $750 and $800 million. - A positive working capital contribution of around $3 billion is anticipated over the quarter. 2026 Sensitivities* | | Change | | Estimated impact on adjusted net operating income | | Estimated impact on cash flow from operations Dollar | | +/- 0.1 $ per € | | -/+ 0.1 B$ | | ~0 B$ Average liquids price ** | | +/- 10 $/b | | +/- 2.3 B$ | | +/- 2.8 B$ European gas price – TTF | | +/- 2 $/Mbtu | | +/- 0.4 B$ | | +/- 0.4 B$ European Refining Margin Marker (ERM) | | +/- 1 $/b | | +/- 0.3 B$ | | +/- 0.4 B$ * Sensitivities are revised once per year upon publication of the previous year's fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies' portfolio in 2026. Actual results could vary significantly from estimates based on the application of these sensitivities. The impact of the $-€ sensitivity on adjusted net operating income is essentially attributable to Refining & Chemicals. ** In a 60-70 $/b Brent environment. Disclaimer Unless otherwise stated, the terms "TotalEnergies", "TotalEnergies company" and "Company" in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate and independent legal entities. The term "Corporation" as used in this document exclusively refers to TotalEnergies SE, which is the parent company of the Company. The data presented in this document is based on TotalEnergies' internal preliminary reporting and is not audited. This data is not intended to be a comprehensive summary of all items that will affect TotalEnergies SE's results or to provide an estimate of 2026 quarterly results. Actual results may vary. To the extent permitted by law, TotalEnergies SE disclaims all liability from the use of this data. This document may contain forward-looking statements (including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995), notably with respect to the financial condition, results of operations, business activities and strategy of TotalEnergies and expectations regarding returns to stockholders, including with respect to future dividends and share buybacks. This document may also contain statements regarding the outlook, objectives, areas of improvement, goals and ambitions of TotalEnergies SE, including with respect to climate change and carbon neutrality. An ambition expresses an outcome desired by TotalEnergies, it being specified that the means to be deployed do not depend solely on TotalEnergies. These forward-looking statements may be identified by the use of the future or conditional tense or forward-looking words such as "will", "should", "could", "would", "may", "likely", "might", "envisions", "intends", "anticipates", "believes", "estimates", "considers", "plans", "expects", "thinks", "targets", "has an ambition to", "commits", "aims" or similar terminology. Such forward-looking statements included in this document are based on economic data, estimates and assumptions prepared in a given economic, competitive and regulatory environment and considered to be reasonable by TotalEnergies as of the date of publication of this document. These forward-looking statements are not historical data and should not be interpreted as assurances that the outlook, objectives, goals or ambitions announced will be achieved. They are uncertain and may change or be modified with a significant difference between the actual results and those initially estimated, due to the uncertainties notably related to the economic, financial, competitive and regulatory environment, or due to the occurrence of risk factors, such as, notably, fluctuations in the price of crude oil and natural gas, changes in demand and prices of petroleum products, changes in production levels and estimates of reserves, the ability to achieve cost reductions and operating efficiencies without unduly disrupting business operations, changes in laws and regulations including those related to the environment and climate, currency fluctuations, technological innovations, meteorological conditions and events, as well as socio-demographic, economic and political developments, changes in market conditions, loss of market share and changes in consumer preferences, pandemics, and other risk factors described in the Corporation's regulatory filings, including its Universal Registration Document filed with the French Autorité des Marchés Financiers, its Annual Report on Form 20-F filed with the United States Securities and Exchange Commission ("SEC") and its other reports filed or furnished with the SEC. Readers are cautioned not to consider forward-looking statements as certain, but as an expression of the Corporation's views only as of the date this document is published. TotalEnergies SE and its subsidiaries undertake no obligation, make no commitment and expressly disclaim any responsibility to investors or any stakeholder to update or revise, particularly as a result of new information or future events, any forward-looking information or statements, objectives or trends contained in this document. In addition, the Corporation has not verified, and is under no obligation to verify any third-party data contained in this document or used in the estimates and assumptions or, more generally, forward-looking statements published in this document. The information on risk factors that could have a significant adverse effect on TotalEnergies' business, financial condition, including its operating income and cash flow, reputation, outlook or the value of financial instruments issued by TotalEnergies is provided in the most recent version of the Universal Registration Document which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Form 20-F filed with the SEC. Additionally, the developments of climate change and other environmental or social issues in this document are based on various frameworks and the interests of various stakeholders which are subject to evolve independently of our will. Moreover, our disclosures on such issues, including disclosures on climate change and other environmental or social issues, may include information that is not necessarily "material" under US securities laws for SEC reporting purposes or under applicable securities law. In addition to IFRS measures, certain alternative performance indicators are presented, such as performance indicators excluding the adjustment items described below (adjusted net operating income, adjusted net income), net cash flow, free cash flow after organic investments, normalized gearing, return on equity (ROE), return on average capital employed (ROACE), gearing ratio, cash flow from operations excluding working capital, debt adjusted cash flow, and the payout ratio. These indicators are meant to facilitate the analysis of the financial performance of TotalEnergies and the comparison of income between periods. They allow investors to track the measures used internally to manage and measure the performance of TotalEnergies. Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies. TotalEnergies measures performance at the segment level on the basis of adjusted net operating income. The adjusted results (adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items, excluding the effect of changes in fair value. For further details on the adjustment items, please refer to the last published earnings statement and notes to the consolidated financial statements. Euro amounts presented for the adjusted fully-diluted earnings per share represent dollar amounts converted at the average euro-dollar (€-$) exchange rate for the applicable period and are not the result of financial statements prepared in euros. Cautionary Note to U.S. Investors – U.S. investors are urged to consider closely the disclosure in the Form 20-F of TotalEnergies SE, File N° 1-10888, available from us at 2, place Jean Millier – Arche Nord Coupole/Regnault – 92078 Paris-La Défense Cedex, France, or at the Corporation's website totalenergies.com. The Form 20-F is also available from the SEC by calling 1-800-SEC-0330 or on the SEC's website. View source version on businesswire.com: https://www.businesswire.com/news/home/20261014547586/en/ Contacts TotalEnergies Investor Relations +33 (0)1 47 44 46 46 [email protected] TotalEnergies Media Relations +33 (0)1 47 44 46 99 [email protected]

Investing.com -- TD Cowen analyst Jason Gabelman identified leading integrated oil companies positioned for strong third-quarter results, with TotalEnergies topping the list as excess cash generation builds across the sector. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » The analyst noted that integrated oil companies are directing excess cash toward balance sheets rather than raising distributions, signaling elevated macro uncertainty following Middle East conflict developments. TD Cowen estimates the peer group will generate $100 billion in excess cash from third-quarter 2026 through fourth-quarter 2027 at strip prices above forecast distributions and target debt metrics. The firm's earnings estimates stand roughly 20% above third-quarter consensus for both earnings per share and free cash flow, reflecting a rising commodity environment through the quarter that consensus has yet to fully capture. Should you buy NVIDIA right now? Before you decide, consider this: an AI-powered list of stock picks is outperforming the market by 120%, and it updates at the start of every month. See this month's picks » 1. TotalEnergies SE (NYSE:TTE) - TotalEnergies remains TD Cowen's top pick, with performance expected to benefit from its September 28 Investor Day. The analyst incorporated $0.35 per share trading outperformance for the company and expects roughly equal free cash flow beats. TotalEnergies ranks among the companies most likely to increase buybacks near term given payout targets. 2. Equinor ASA ADR (NYSE:EQNR) - TD Cowen favors Equinor's setup into earnings given the combination of strong gas prices and a lag on cash tax payments, which should result in very strong cash flows. The company should beat consensus earnings per share by the widest margin, while free cash flow should benefit from tax lags, reducing net debt to capital by more than 5% quarter over quarter. Equinor continues to pursue U.S. power and gas assets and has been reported as a bidding party in Uniper. 3. ExxonMobil Holdings Corporation (NYSE:XOM) - Some investors may rotate from Chevron back into Exxon Mobil, according to the analyst. Chevron has outperformed on Venezuela news, though additional questions around TCO extension could prompt investor rotation back to Exxon. TD Cowen includes a $1.50 per share timing headwind for Chevron, and observes that forecast free cash flow for both Chevron and Exxon show equal beats. Looking for the next multi-bagger? This AI enabler is up 90%+ since picked by our AI models in July -- and still has a 62% upside » Original Article TD Cowen highlights top oil stocks ahead of earnings season Blockchain.com eyes $500M IPO at up to $6B valuation, Bloomberg reports Cleveland-Cliffs slides as report shows Stelco idling plant over US tariffs

Murphy Oil Corporation MUR reported second-quarter 2026 adjusted earnings of $1.55 per share, up 474.1% year over year. The figure topped the Zacks Consensus Estimate of $1.51 per share by 2.7%.GAAP earnings were $1.59 per share compared with 16 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to discontinued operations and other items affecting comparability between periods. Revenues of $928.3 million increased 33.5% and beat the consensus estimate of $871 million by 6.5%. Higher commodity prices and solid operating execution supported the results. U.S. exploration and production revenues increased 34.4% to $744 million. Canadian revenues advanced 43.1% to $183.6 million, showing that the revenue improvement extended across both major geographic businesses. Corporate contributed $0.7 million in total revenues. Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation Quote Murphy realized $99.14 per barrel of oil in the quarter, its highest level since 2022 and up 37% sequentially. Gas prices dipped seasonally this quarter, and gas prices realized $1.76 per thousand cubic feet. Total production volumes reached 169,000 barrels of oil equivalent per day (Boe/d), at the upper end of guidance level of 161,000-169,000 Boe/d. Oil production totaled 85,300 barrels per day. The onshore business produced 103,800 Boe/d, including 39,100 Boe/d from the Eagle Ford Shale, 58,100 Boe/d from Tupper Montney and 6,600 Boe/d from Kaybob Duvernay. Murphy brought six operated Eagle Ford wells and four Kaybob Duvernay wells online during the quarter.Offshore production totaled about 65,000 Boe/d. The Gulf of America contributed 57,100 Boe/d, while offshore Canada produced 7,900 Boe/d. In the Gulf of America, Chinook #8 completed drilling and moved into completion activity, with first production expected in the fourth quarter of 2026. Total costs and expenses fell 4.9% year over year to $573.6 million. Lease operating expenses declined to $143.7 million from $215.6 million, offsetting higher exploration costs of $39.3 million compared with $10.4 million a year earlier.Lease operating expense, excluding noncontrolling interest, averaged $8.83 per BOE. Selling and general expenses rose to $38.7 million from $36.9 million. Interest expenses were $24.9 million, down 0.8% year over year. The Bubale-1X well offshore Côte d'Ivoire discovered oil across 100 feet of net pay in two reservoirs. Murphy subsequently started the Bubale West-1X appraisal well and expects the broader appraisal program to include as many as five wells over the next 18-24 months.In Vietnam, the Hai Su Vang appraisal program established an updated gross recoverable resource estimate of 200-300 million barrels of oil equivalents (Boe). Murphy is targeting a final investment decision by the fourth quarter of 2027. The Lac Da Vang project remains on track for first oil in the fourth quarter of 2026 after pipeline installation, topsides work and FSO mobilization progressed. In second-quarter 2026, net cash provided by continuing operations was $655.9 million, up from $358.1 million a year ago. Operating cash flow excluding working-capital changes was $588.4 million, while free cash flow totaled $110 million.As of June 30, 2026, Murphy had about $484 million in cash and cash equivalents and approximately $2.48 billion of liquidity. Total long-term debt stood at $1.55 billion. The company paid $50 million in dividends during the quarter and retained $550 million under its share repurchase authorization. For the third quarter, MUR expects production of 171,000-179,000 Boe/d and capital expenditures of $380-$460 million, excluding noncontrolling interest. Exploration expense is projected at $135 million.The company maintained full-year production guidance of 167,000-175,000 Boe/d. However, MUR raised its 2026 capital spending range to $1.5-$1.6 billion from the prior midpoint of $1.25 billion. This increase indicates appraisal spending at Bubale, accelerated Eagle Ford activity and higher Chinook #8 costs. For 2026, exploration expense is projected at $300 million. Murphy currently has a Zacks Rank # 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Devon Energy Corporation DVN reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%. Revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results. TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.CNX Resources Corporation CNX reported second-quarter 2026 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 57 cents by 26.3%. The bottom line increased 22% from the year-ago quarter’s 59 cents.The company reported revenues of $389 million, which missed the Zacks Consensus Estimate of $413 million by 5.8%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Murphy Oil Corporation (MUR) : Free Stock Analysis Report Devon Energy Corporation (DVN) : Free Stock Analysis Report CNX Resources Corporation. (CNX) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Sempra SRE reported second-quarter 2026 adjusted earnings per share (EPS) of $1.16, which beat the Zacks Consensus Estimate of $1.01 by 14.9%. The bottom line increased 30.3% from the year-ago quarter’s figure of 89 cents.Including one-time items, the company generated GAAP earnings of $1.21 per share compared with 71 cents in the second quarter of 2025. Revenues of $2.997 billion missed the Zacks Consensus Estimate of $3.22 billion by 6.8%. The top line decreased 0.1% from $3 billion in the year-ago quarter. Sempra price-consensus-eps-surprise-chart | Sempra Quote Sempra California: Quarterly earnings amounted to $297 million compared with the year-ago quarter’s level of $259 million.Sempra Texas Utilities: Earnings in this segment increased to $346 million from $208 million in the year-ago quarter. Sempra Infrastructure: The segment recorded earnings of $230 million compared with $72 million in the year-ago quarter.Parent and Other: The segment reported a loss of $77 million, narrower than the prior-year period’s loss of $78 million. As of June 30, 2026, Sempra Energy’s cash and cash equivalents totaled $0.05 billion compared with $0.03 billion as of Dec. 31, 2025.As of the same date, long-term debt and finance leases amounted to $31.02 billion compared with $28.98 billion as of Dec. 31, 2025.Cash flow from operating activities in the first six months of 2026 totaled $3.12 billion compared with $2.27 billion in the year ago period. The company expects its 2026 adjusted earnings to be in the range of $4.80-$5.30 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.12 per share, higher than the midpoint of the company’s guided range.SRE has also provided a full-year 2027 EPS guidance of $5.10-$5.70. Sempra expects a 7-9% long???term EPS growth rate. Sempra Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).TTE’s total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.Energy Transfer LP ET reported second-quarter 2026 earnings of 59 cents per unit, which beat the Zacks Consensus Estimate of 39 cents by 51.28%. The bottom line increased 84.4% from 32 cents a year ago.ET’s revenues of $34.33 billion surpassed the consensus estimate of $31.09 billion by 10.42% and climbed 78.4% year over year.Devon Energy Corporation DVN reported second-quarter 2026 adjusted earnings of $1.57 per share, which beat the Zacks Consensus Estimate of $1.30 by 20.77%. DVN’s revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sempra (SRE) : Free Stock Analysis Report Devon Energy Corporation (DVN) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Occidental Petroleum Corporation OXY reported second-quarter 2026 adjusted earnings of $2.40 per share, surging 823.1% year over year and beating the Zacks Consensus Estimate of $1.92 by 25%. Higher realized crude oil prices and a sharp improvement in Midstream and Marketing supported results. Midstream and Marketing reported adjusted pre-tax income of $961 million, exceeding the high end of the company’s guidance. The segment posted adjusted income of $196 million in the year-ago quarter.Reported earnings were $2.75 per share compared with 26 cents a year earlier. Revenues climbed 57.1% to $8.33 billion and surpassed the Zacks Consensus Estimate of $7.18 billion by 16%.Oil and Gas revenues totaled $6.88 billion, up 37.4% from $5.01 billion in the year-ago quarter. Higher commodity realizations more than offset weakness in domestic natural gas pricing.Midstream and Marketing revenues jumped 240% year over year to $1.33 billion. Interest, dividends and other income totaled $82 million compared with $43 million a year earlier. Occidental Petroleum Corporation price-consensus-eps-surprise-chart | Occidental Petroleum Corporation Quote Worldwide production reached 1,433 thousand barrels of oil equivalent per day (Mboe/d), exceeding the high end of management’s guidance of 1,390-1,430 Mboe/d. Strong domestic performance helped total production rise 2.4% year over year. Permian Resources production averaged 804 Mboe/d, up from 770 Mboe/d in the second quarter of 2025. Production from the region also exceeded the guidance of 783-803 Mboe/d.Gulf of America output rose to 144 Mboe/d from 125 Mboe/d, benefiting from strong base performance and maintenance optimization.Rockies and Other Domestic production increased to 280 Mboe/d from 272 Mboe/d. International production declined to 205 Mboe/d from 233 Mboe/d, partly reflecting disruptions in the Middle East. Occidental’s worldwide realized crude oil price increased 51.8% year over year to $96.78 per barrel. The average WTI and Brent marker prices were $92.79 and $97.06 per barrel, respectively, up from $63.74 and $66.59.Worldwide realized natural gas liquids prices advanced 19% to $24.64 per barrel. However, domestic realized natural gas prices were negative $1.48 per thousand cubic feet in contrast to a positive $1.33 in the prior-year period, limiting part of the commodity-price benefit. Total costs and other deductions declined 4% year over year to $4.55 billion. Oil and gas lease operating expenses slipped 1.6% to $1.12 billion, while transportation and gathering costs increased 3.3% to $463 million.Depreciation, depletion and amortization expenses rose 1.3% to $1.85 billion. Interest and debt expense fell 60.1% to $108 million, reflecting the company’s accelerated debt-reduction efforts. In the first half of 2026, the company brought online 256 wells in the Permian and 84 wells in the Rockies region, which boosted domestic production volumes. In the second quarter, operating cash flow from continuing operations totaled $5.09 billion. Excluding working-capital movements, operating cash flow was $4.61 billion. Capital expenditures totaled $1.59 billion, resulting in free cash flow before working capital of $3.02 billion.Occidental reduced principal debt by $1.9 billion during the quarter to $11.8 billion. The company retired $8.6 billion of debt during the first half of 2026 and ended June with $4.15 billion in cash and cash equivalents. Management also raised the quarterly dividend by 8% to 28 cents per share. For 2026, Occidental now expects total production of 1,423-1,453 Mboe/d compared with earlier expectation of 1,410-1,460 Mboe/d. The outlook includes Permian production of 801-817 Mboe/d and Gulf of America production of 132-136 Mboe/d.The company projects full-year Midstream pre-tax income of $1.3-$1.5 billion. Net capital expenditures are expected between $5.5 billion and $5.9 billion, while adjusted interest expense is forecasted at approximately $680 million. Exploration expenses are expected to be $290 million.For the third quarter of 2026, OXY expects production in the band of 1,400-1,440 Mboe/d. Output from the Permian Resources segment is anticipated at 795-8815 Mboe/d. Occidental expects international production volumes for the third quarter of 2026 to be in the range of 225-231 Mboe/d.In 2026, OXY plans to bring in between 485 and 515 wells online in the Permian and 150-170 wells in the Rockies region. Occidental currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Murphy Oil Corporation MUR reported second-quarter 2026 adjusted earnings of $1.55 per share, up 474.1% year over year. The figure topped the Zacks Consensus Estimate of $1.51 by 2.7%.Revenues of $928.3 million increased 33.5% and beat the consensus estimate of $871 million by 6.5%. Higher commodity prices and solid operating execution supported the results. TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.Devon Energy Corporation DVN reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%. Revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report Devon Energy Corporation (DVN) : Free Stock Analysis Report Murphy Oil Corporation (MUR) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Devon Energy Corporation DVN reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%. GAAP earnings were $2.03 per share, up 44% from $1.41 a year ago. Revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results. Oil, gas and natural gas liquids sales totaled $5.11 billion compared with $2.71 billion in the year-ago quarter. Marketing and midstream revenues increased to $1.90 billion from $1.34 billion.Oil, gas and NGL derivatives generated revenues of $414 million compared with $236 million a year earlier. The latest figure included $530 million of positive derivative valuation changes, partly offset by $116 million of cash settlement losses. Devon Energy Corporation price-consensus-eps-surprise-chart | Devon Energy Corporation Quote Total production averaged 1,359 thousand barrels of oil equivalent per day (MBoe/d), increased 61.6% year over year from 841,000 Boe/d. Devon completed its merger with Coterra on May 7, meaning the quarterly figures included combined operations for part of the period. The production level was 1.6% higher than the midpoint of management’s guidance. Oil production rose 30% year over year to 503,000 barrels per day. NGL output climbed 41.4% to 314,000 barrels per day, while natural gas production increased to 3,252 million cubic feet per day from 1,388 million cubic feet. Better-than-expected well performance in the Delaware Basin supported oil and gas volumes. Realized oil prices, including cash settlements, were up 39.9% year over year to $88.09 per barrel from $62.97 in the prior-year quarter. Excluding hedges, oil realizations were $95.10 per barrel.Realized NGL prices increased to $22.70 per barrel from $17.82. However, realized natural gas prices, including cash settlements, declined to $1.05 per thousand cubic feet from $1.56. Regional Waha pricing was pressured by infrastructure constraints in the Delaware Basin. Capital expenditures were $1.27 billion, 2.4% above the midpoint of management’s guidance. The company placed 120 net operated wells online during the quarter, with an average lateral length of 10,800 feet.The Permian accounted for $731 million of capital spending, followed by $196 million in the Rockies. Eagle Ford, Anadarko and Marcellus expenditures were $97 million, $129 million and $70 million, respectively. Devon acquired 16,300 net Delaware Basin acres for $2.6 billion, adding approximately 400 top-tier locations. Net cash from operating activities was $3.67 billion compared with $1.55 billion a year ago. Adjusted operating cash flow was $2.9 billion, while adjusted free cash flow totaled roughly $1.7 billion, excluding after-tax restructuring costs.Devon returned $1.06 billion through dividends, share repurchases and debt retirement. It repurchased 4.3 million shares for $197 million and paid $366 million in dividends. The quarterly fixed dividend was raised 33% to 32 cents per share. For the third quarter of 2026, total production is expected between 1,660 MBoe/d and 1,690 MBoe/d. Oil production is projected in the range of 550,000-560,000 barrels per day. Third-quarter capital expenditures are anticipated between $1.4 billion and $1.5 billion. Devon maintained its full-year guidance, calling for total production of 1,364 MBoe/d to 1,398 MBoe/d and capital spending of $4.8-$5 billion. 2026 Oil production is expected to be in the range of 495,000-505,000 barrels per day. Natural gas production for 2026 is expected to be in the range of 3,300-3,400 million cubic feet per day.Management remains on track to achieve at least $1 billion in annual pre-tax merger synergies on a run-rate basis by the end of 2027. Devon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.CNX Resources Corporation CNX reported second-quarter 2026 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 57 cents by 26.3%. The bottom line increased 22% from the year-ago quarter’s 59 cents.The company reported revenues of $389 million, which missed the Zacks Consensus Estimate of $413 million by 5.8%.National Fuel Gas Company NFG reported third-quarter fiscal 2026 adjusted earnings of $1.54 per share, which beat the Zacks Consensus Estimate of $1.47 by 4.8%. However, earnings declined 6.1% from $1.64 in the year-ago quarter.NFG reported sales of $537.5 million, which missed the consensus estimate of $564 million by 4.7%. However, the top line increased 1.1% from the prior-year recorded figure of $531.8 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Devon Energy Corporation (DVN) : Free Stock Analysis Report CNX Resources Corporation. (CNX) : Free Stock Analysis Report National Fuel Gas Company (NFG) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BP reported second-quarter net profit of $3.91 billion on Tuesday, more than double the $1.62 billion it posted in the same period last year, as the U.S.-Iran war drove oil and gas prices sharply higher. A core profit measure that strips out certain items came in at $5.7 billion for the April-to-June period, the company said. Analyst expectations for that figure stood at $5 billion, according to CNBC. Total revenue climbed 47% to $70 billion compared with a year earlier. The results reflect conditions that have upended global energy markets. Fighting between Washington and Tehran has severely disrupted shipping through the Strait of Hormuz, a narrow waterway that handles around a fifth of the world's oil and natural gas. Together, the five major Western oil companies — BP, Chevron, ExxonMobil, Shell and TotalEnergies — earned close to $47 billion in combined net profit during the quarter, according to Euronews. BP chief executive Meg O'Neill, who has led the company since April, said in a statement that the quarter occurred during "one of the most disrupted periods in the global energy market." "We are not making the most of our potential," O'Neill added. "Our performance over the past few years has not met our own expectations, let alone those of our shareholders." O'Neill addressed President Donald Trump's criticism of oil companies over high fuel prices. "I understand the pressure that the ordinary household feels when they pull into the service station to fill up and see the prices," O'Neill told CNBC's "Squawk Box Europe." "The reality is we produce a global commodity and the prices for the product we sell hangs off that global commodity price." Trump on Monday called out Exxon Mobil and Chevron for making "too much money" off higher fuel prices. The company reported quarterly operating cash flow of $10.9 billion, while net debt dropped to $22.25 billion by quarter's end, compared with $25.3 billion three months earlier, the company said. BP raised its quarterly dividend by 4% to 8.66 cents per ordinary share. Oil prices posted their biggest monthly gain since March in July, with Brent crude rising roughly 20% as the conflict escalated and disruptions spread across key shipping routes. The International Energy Agency has forecast that global supply will fall by 3.9 million barrels per day in 2026, with the war estimated to have blocked more than 14 million barrels per day of Middle East output. BP announced Tuesday that it is moving to divest Archaea Energy, a U.S. biogas unit it purchased for $4.1 billion in 2022. The company also said it had completed the sale of its Gelsenkirchen refinery in Germany and plans to sell its North Sea business. BP stock climbed 0.8% on Tuesday.

Energy Transfer LP ET reported second-quarter 2026 earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 39 cents by 51.28%. The bottom line increased 84.4% from 32 cents a year ago. Revenues of $34.33 billion surpassed the consensus estimate of $31.09 billion by 10.42% and climbed 78.4% year over year. Record NGL transportation and export volumes, along with stronger crude oil and midstream activity, supported the quarter. Energy Transfer LP price-consensus-eps-surprise-chart | Energy Transfer LP Quote NGL and refined products transportation and services revenues increased 29.9% to $7.72 billion. Segment adjusted EBITDA rose 26.6% to $1.31 billion, reflecting stronger marketing, terminal, transportation, storage and fractionation margins.NGL transportation volumes climbed 13% to a record 2.64 million barrels per day. Terminal volumes rose to 1.86 million barrels per day. Fractionation volumes increased 3% to 1.19 million barrels per day. Higher Permian volumes and stronger exports aided throughput.Midstream revenues declined 10% to $2.82 billion, but segment adjusted EBITDA increased 15.1% to $884 million. Gathered volumes rose 4% to a record 22.14 million BBtu per day, helped by higher dry-gas gathering and increased Permian processing activity.Crude oil transportation and services revenues surged 92.3% to $11.05 billion. Segment adjusted EBITDA grew 13.9% to $834 million. Transportation volumes increased 4% to a record 7.34 million barrels per day, supported by higher activity across the Texas, Permian and Bakken systems.Intrastate transportation and storage revenues fell 36% to $596 million, while segment adjusted EBITDA increased 32.7% to $377 million. Wider basis differentials and early volumes from the Hugh Brinson Pipeline more than offset lower transported volumes and higher expenses.Interstate transportation and storage revenues rose 3.2% to $609 million, and segment adjusted EBITDA gained 2.3% to $481 million. Higher parking, storage and liquids revenues offset lower utilization on the Trunkline, Gulf Run and Mississippi River systems. Revenues from the investment in the Sunoco LP segment increased 164.5% to $14.26 billion. The segment adjusted EBITDA more than doubled to $982 million, primarily reflecting recent acquisitions and higher contributions from unconsolidated affiliates.The investment in USA Compression Partners generated revenues of $342 million, up 36.8%. The segment adjusted EBITDA advanced 30.2% to $194 million, driven by the J-W Power acquisition and growth in USAC's legacy operations. Total costs and expenses were $30.76 billion, up 81.7% year over year, mainly due to a sharp increase in the cost of products sold. Operating expenses, depreciation, depletion and amortization, and selling, general and administrative expenses also increased.Operating income rose 54.8% to $3.57 billion. Interest expense, net of capitalized interest, increased 8% to $934 million. Net income attributable to partners advanced 79.5% to $2.09 billion. Adjusted EBITDA increased 31% to $5.07 billion. Distributable cash flow attributable to partners, as adjusted, rose 32% to $2.59 billion. Second-quarter growth capital expenditures were $1.10 billion, while maintenance capital expenditures were $307 million.Current assets totaled $23.11 billion at June 30, 2026, compared with $18.23 billion at the end of 2025. Long-term debt, less current maturities, was $68.39 billion. The revolving credit facility had $3.76 billion of available borrowing capacity. Energy Transfer now expects 2026 adjusted EBITDA of $18.8-$19.1 billion, up from the prior range of $18.2-$18.6 billion. The partnership projects growth capital spending of $5.6-$5.9 billion.The Hugh Brinson Pipeline entered commercial service and is expected to reach full Phase I capacity of 1.5 Bcf per day by Sept. 1, 2026. ET also completed upgrades adding more than 90,000 barrels per day of capacity to the Lone Star Express pipeline and placed the Mustang Draw I processing plant into service. Energy Transfer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. CNX Resources Corporation CNX reported second-quarter 2026 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 57 cents by 26.3%. The bottom line increased 22% from the year-ago quarter’s 59 cents. The earnings beat came despite lower production and natural gas prices, supported by disciplined costs and a 59% cash operating margin.The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates year-over-year growth of 11.81% and 42.23%, respectively.TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).The Zacks Consensus Estimate for 2026 implies year-over-year growth of 53.12% and the same for 2027 indicates a year-over-year decline of 7.46%.National Fuel Gas Company NFG reported third-quarter fiscal 2026 adjusted earnings of $1.54 per share, which beat the Zacks Consensus Estimate of $1.47 by 4.8%. However, earnings declined 6.1% from $1.64 in the year-ago quarter.The Zacks Consensus Estimate for fiscal 2026 and 2027 earnings per share implies year-over-year growth of 10.85% and 2.97%, respectively. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Energy Transfer LP (ET) : Free Stock Analysis Report CNX Resources Corporation. (CNX) : Free Stock Analysis Report National Fuel Gas Company (NFG) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. TotalEnergies (ENXTPA:TTE) is back in focus after a strong second quarter of 2026 and new growth plans, including a final investment decision for the Cronos gas field offshore Cyprus. See our latest analysis for TotalEnergies. The Cronos FID and a strong Q2 update have arrived at a time when TotalEnergies’ share price has gained clear momentum, with a 30 day share price return of 15.93% and a year to date share price return of 36.22%. The 1 year total shareholder return of 58.05% and 5 year total shareholder return of 169.10% point to solid long term compounding, despite a 90 day share price return that is down 3.62%. If you want to see what else is benefiting from the energy transition and infrastructure build out, this is a good moment to scan 35 power grid technology and infrastructure stocks After a sharp move that has taken TotalEnergies to €76.42, the stock now sits below both the average analyst target and some much higher intrinsic estimates. Is that gap pointing to genuine mispricing, or to optimism that is already fully reflected in the price? According to composite32, the most followed narrative sees TotalEnergies’ fair value at €88.29 compared with the current share price of €76.42. This leaves a sizeable gap that this framework tries to explain. Read the complete narrative. Want to understand why this narrative points to a higher value for TotalEnergies? The whole case turns on long range cash flow, margin resilience and a richer earnings multiple than the market is implying. Result: Fair Value of €88.29 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, TotalEnergies’ case could be hit if stricter climate policy accelerates stranded asset risk, or if geopolitical shocks disrupt its global operations and cash flows. Find out about the key risks to this TotalEnergies narrative. With TotalEnergies attracting both optimism and concern in this article, it makes sense to review the data yourself, weigh the trade offs, and then assess the 3 key rewards and 1 important warning sign If you stop with TotalEnergies, you could miss stocks that better match your goals. Take a few minutes to broaden your watchlist with targeted ideas. Target potential bargains by scanning 257 high quality undervalued stocks that combine quality fundamentals with prices that may not fully reflect their underlying strength. Strengthen your income stream by reviewing 433 dividend fortresses that aim to pair higher yields with resilient business models. Reduce portfolio stress by focusing on resilience first and checking 304 resilient stocks with low risk scores built to handle tougher conditions. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TTE.PA. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

TotalEnergies SE (NYSE:TTE) reported second-quarter adjusted net income of $6 billion on July 23, 2026, up 67% year-over-year and its best quarter in nearly three years. The gain traced almost entirely to the Iran war, as Hormuz disruption pushed crude and gas prices to multi-year highs and lifted European refining margins while Middle East capacity stayed offline. Refining and chemicals income rose 362% to $1.8 billion, and exploration and production earnings climbed 64% to $3.2 billion. CEO Patrick Pouyanné called the strait a battleground and said closures could become normal, leaving the real question: what the company looks like once that windfall fades. LNG is where that question starts to get answered, and the quarter alone was not encouraging. The segment earned $807 million, a 22% decline the company attributed to trading underperformance amid flat European demand, though Pouyanné said prices rallied in July. Then, on July 28, 2026, TotalEnergies SE (NYSE:TTE) took a final investment decision alongside Eni on the Cronos gas field off Cyprus, each holding 50%. Gas from the field, discovered in 2022, will flow to Egypt for liquefaction at Damietta before export to Europe, with production starting in 2028 at about 2.8 million tons a year, half marketed by TotalEnergies, toward its 60 Mtpa LNG goal by 2030. A second decision the same day addressed the other side: earnings TotalEnergies already has. The Financial Times reported the EU had reversed an October decision banning EU companies from transferring Russian LNG outside the bloc after 2026. The exemption, tied to a Greek sanctions concession, lets TotalEnergies SE (NYSE:TTE) keep supplying Asian buyers from its 20% Yamal LNG stake in Siberia if contracts predate the February 2022 invasion of Ukraine and volumes stay within 2025 levels. Pouyanné has said Yamal generates about $400 million a year, earnings the exemption now protects ahead of the EU's own import ban starting at year-end. Most Yamal cargoes still went to Europe in the first half of 2026, 9.89 million tons to EU ports against 510,000 tons to Asia. Analysts are split on the same question. TD Cowen raised its price target to $105 from $102 on July 24, 2026, kept a Buy rating, and said weak gas trading should reverse next quarter if prices hold. Mizuho initiated coverage ahead of earnings with an Outperform rating and a $103 target, citing a dual-engine hydrocarbons and low-carbon strategy. Meanwhile, Piper Sandler was more cautious on July 23, 2026, starting coverage at Neutral with an $85 target, arguing shares already trade near their long-term average with less room for further upside. Positioning data adds context, not an answer. Insider Monkey's database shows 30 of 1,022 hedge funds held TotalEnergies SE (NYSE:TTE) in the first quarter of 2026, up from 26 a quarter earlier, with holdings valued at about $3.02 billion versus roughly $2.0 billion earlier. As of July 15, 2026, TotalEnergies had 5.74 million shares short, up from 4.41 million on June 15, 2026, with a short-float of 0.26%, below Shell's 1.82% and BP's 0.49%. Results from the company's peers will be events to watch for further insight into the sector's momentum. Shell plc (NYSE:SHEL) is scheduled to report its second-quarter 2026 results on July 30, 2026, while BP p.l.c. (NYSE:BP) will report its second-quarter 2026 results on August 4, 2026. Cronos and the EU exemption resolve the two LNG-specific worries, growth and protection. Meanwhile, the broader windfall looks only partly durable. Pouyanné himself described the intermittent Hormuz closures as trending toward a new normal rather than a one-off, an argument for margins staying elevated. Against that, the Qatari, Iraqi, and UAE offshore fields TotalEnergies curtailed in March, roughly 15% of output, are gradually coming back online, a factor behind the 25% quarter-over-quarter rise in exploration and production earnings, and the company's SATORP refinery in Saudi Arabia is expected back at full capacity by the third quarter, pointing to further normalization ahead. Piper Sandler's neutral stance, with shares near their long-term average, suggests the market is not pricing in much more durability than that. While we acknowledge the risk and potential of TTE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TTE and that has 10,000% upside potential, check out our report about this cheapest AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years. Disclosure: None. Follow Insider Monkey on Google News.

TotalEnergies SE TTE reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38). Total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%. TotalEnergies SE Sponsored ADR price-consensus-eps-surprise-chart | TotalEnergies SE Sponsored ADR Quote In the second quarter, hydrocarbon production averaged 2,395 thousand barrels of oil equivalent per day, down 4.3% year over year. This year-over-year decrease was due to a natural decline in fields and the impact of ongoing conflict in the Middle East. The headwinds were marginally offset by contributions from start-ups and the higher availability of production facilities.In the reported quarter, liquid production averaged 1,410 thousand barrels per day, down nearly 6.4% year over year.Quarterly gas production was 5,330 thousand cubic feet per day, down 1.2% year over year. The quarterly realized price for Brent was up 52.9% to $103.8 per barrel from $67.9 in the year-earlier period. The average realized liquid price was $91.6 per barrel, up 2% year over year.Realized gas prices were down 39.6% year over year to $5.55 per thousand British thermal units (Btu).Realized LNG prices were up 12.1% year over year to $10.2 per thousand Btu. Net power production was 14.8 terawatt hours in the second quarter of 2026, up 27.6% year over year. Nearly 65% of the power generated came from renewable sources.Net operating income was $6.87 billion, up 56.5% year over year due to strong contributions from Exploration & Production and Refining & Chemicals segments.Interest expenses were $817 million, a tad higher from $816 million incurred in the prior-year period.TotalEnergies acquired assets worth $141 million and sold assets worth $1,388 million.The company repurchased 16.9 million shares worth $1.5 billion in the second quarter. TTE repurchased 26.3 million shares in the first half of 2026 for a total of $2.25 billion. Exploration & Production’s operating earnings were $3.23 billion, up 6.4% from $1.97 billion in the year-ago period.Integrated LNG’s operating income was $0.8 billion, down 22.5% from $1.04 billion in the year-earlier quarter.Integrated Power’s operating income was $533 million, down 7.1% from $574 million in the year-ago quarter.Refining & Chemicals’ operating income of $1.6 billion increased 362.7% from $0.4 billion in the prior-year quarter.Marketing & Services’ operating income of $500 million improved 21.4% from $412 million in the second quarter of 2025. Cash and cash equivalents as of June 30, 2026, were $27.68 billion compared with $26.2 billion as of Dec. 31, 2025. Gearing, including leases, was 17.9% at the end of the second quarter of 2026 compared with 22.6% at the end of second-quarter 2025.Cash flow from operating activities in second-quarter 2026 was $10.86 billion, up 82.2% year over year. Free cash flow after prganic investments was $5.11 billion compared with $1.8 billion in year-ago quarter.TTE’s net investments in the second quarter amounted to $3.4 billion and $7.9 billion in the first half of 2026, consistent with the annual guidance of $15 billion. Excluding the impact of the conflict in the Middle East, the production of the third quarter is expected to grow around 3% compared with third quarter of 2025.TTE expects the refinery utilization rate to be between 80% and 85% in the third quarter, partly due to SATORP operating at 70% of nominal capacity since early May. The facility is expected to return to full capacity by the end of the third quarter of 2026.TTE anticipates investing $15 billion in 2026, including sizeable investments for low-carbon energies.The company’s board of directors authorized share buybacks up to $1.5 billion in third quarter. TotalEnergies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Devon Energy Corporation DVN is slated to report second-quarter 2026 results on Aug. 4, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.30 per share, which indicates a year-over-year increase of 54.76%. Devon’s earnings surpassed estimates in each of the trailing four quarters, resulting in an average surprise of 4.57%.Murphy Oil Corporation MUR is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.47 per share, which indicates a year-over-year rise of 444.4%. Murphy Oil’s earnings surpassed estimates in each of the trailing four quarters, resulting in an average surprise of 117.54%.Occidental Petroleum Corporation OXY is slated to report second-quarter 2026 results on Aug. 6, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.95 per share, which indicates year-over-year growth of 400%. Occidental’s earnings surpassed estimates in each of the trailing four quarters, resulting in an average surprise of 49.72%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report Devon Energy Corporation (DVN) : Free Stock Analysis Report Occidental Petroleum Corporation (OXY) : Free Stock Analysis Report Murphy Oil Corporation (MUR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: Cash flow of $9.8 billion in Q2 2026, up nearly 15% from Q1. Adjusted Net Income: Increased to $6 billion in Q2 2026. Brent Oil Price: Averaged $104 per barrel in Q2 2026, up from $81 in Q1. Production Growth: Upstream production grew over 4% year-on-year. Refining Margins: Increased by $13.5 per barrel on average over the quarter. Integrated Power Cash Flow: Increased by 25% over the quarter. Return on Equity (ROE): 15.9% in Q2 2026. Return on Average Capital Employed (ROACE): Close to 14%. Gearing Ratio: Improved to 13.1% at the end of Q2 2026. Capital Expenditure: $3.4 billion in Q2 2026. Dividend Increase: Interim quarterly dividend increased by 5.9% to EUR0.9 per share. Buybacks: $1.5 billion in Q2 2026, with authorization for another $1.5 billion in Q3. Marketing & Services Cash Flow: Approximately $850 million, up 19% year-on-year. Warning! GuruFocus has detected 5 Warning Signs with TTE. Is TTE fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TotalEnergies SE (NYSE:TTE) delivered strong financial results in the second quarter, with cash flow increasing by almost 15% compared to the first quarter, reaching $9.8 billion. The company achieved a 4% organic growth in production, surpassing its annual guidance, driven by strong performance in Brazil, the US, and Libya. Refining & Chemicals performed exceptionally well, capturing high margins by prioritizing the production of diesel and jet fuel. TotalEnergies SE (NYSE:TTE) increased its interim quarterly dividend by 5.9% to EUR0.9 per share, maintaining its position among leading dividend-growing companies. The Integrated Power segment delivered one of its best quarters ever, with strong cash flow supported by the closing of a transaction with EPH. The ongoing conflict in the Middle East has created a volatile environment, impacting TotalEnergies SE (NYSE:TTE)'s operations and market conditions. Gas trading activities underperformed in the second quarter due to flat to declining European market conditions, resulting in weaker results. Production in the Middle East faced limitations, with an impact of 5% to 10% on global production, depending on the conflict's development. The SATORP refinery in Saudi Arabia and Port Arthur in the US faced operational disruptions due to external events, affecting production levels. The company faces challenges in accessing cash distributions from the Yamal LNG project due to sanctions and geopolitical tensions. Q: Can you provide an update on the FID for the Venus project in Namibia and the payout ratio for this year? A: Patrick Pouyanne, CEO, stated that the approval for the GAL transaction related to Mopane versus Venus was received, and the deal is expected to close soon. Discussions for the FID of Venus are ongoing, with a target to sanction by the end of July. Regarding the payout ratio, TotalEnergies aims for a 40% payout, having increased buybacks and dividends between the first and second quarters. The company is cautious due to the volatile macro environment but remains committed to the 40% target on a yearly basis. Q: What is the status of the giant oil developments in Uganda and Suriname, and do you have any insights on China demand? A: Patrick Pouyanne, CEO, mentioned that Uganda's crude oil production is expected to start by the end of the year, with full plateau by mid-2027. Suriname's production is on track to start in the first half of 2028. Regarding China, there has been a significant drop in imports, with refinery runs reduced by 10%. The domestic demand impact is unclear, but the reduction in exports is evident. Q: Are there any updates on the Arctic LNG2 project and the legal language around EU sanctions? A: Patrick Pouyanne, CEO, explained that TotalEnergies' rights and obligations under Arctic LNG2 have been suspended since November 2023 due to U.S. sanctions. Novatek has initiated discussions for the transfer of TotalEnergies' shares in Arctic LNG2, and the process is expected to complete soon. Regarding EU sanctions, there is ongoing discussion about allowing EU tankers to transport Russian LNG outside the EU, which could impact TotalEnergies' operations. Q: How does TotalEnergies view the current M&A market, and what is the company's stance on exploration in Uruguay? A: Patrick Pouyanne, CEO, noted that the current market is more favorable for sellers due to high crude oil prices. TotalEnergies is not actively pursuing exploration in Uruguay, as previous experiences were not encouraging. The company is focused on other regions like Namibia and Suriname for exploration opportunities. Q: Can you comment on the positioning of your gas traders and the state of the M&A market? A: Patrick Pouyanne, CEO, stated that gas trading underperformed due to a bearish European market, but the company expects improvement in the third quarter. Regarding M&A, the current environment is more favorable for selling than buying, given the high crude oil prices. TotalEnergies is cautious about making deals at current price levels. For the complete transcript of the earnings call, please refer to the full earnings call transcript.