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Friday, July 27, 2012 7:56:10 PM
European refining margins more than doubled to $38.20 a metric ton in the second quarter, up from $16.30 a ton in the same period a year ago, and $20.90 a ton in the first quarter of this year.
The company raised its quarterly dividend for the first time since 2008, up 3.5% to 0.59 euros per share.
The company's CFO also said mgmt prefers dividend increases versus stock repurchases (refreshing).
Total said it remained confident about the second half of the year.
Four additional reasons Total is a solid pick for value and income investors at $46 a share:
The stock is selling at the bottom of its five year valuation range based on P/E, P/B, P/CF and P/S.
With the payout increase, Total now yields close to 6% and the company seems committed to raise payouts as warranted in the future.
The stock is cheap especially for a high yielder. TOT is selling for less than 7 times forward earnings and just over 4 times operating cash flow.
Analysts have a median price target of $58 on the shares. S&P has a "Buy" rating and a $61 price target on the stock.
"My well came in big, so big, Bick and there's more down there and there's bigger wells. I'm rich, Bick. I'm a rich 'un. I'm a rich boy." - Jett Rink
Don't believe anything I say. Do your own DD. Insert huge disclaimer here ____________.
Recent TTE News
- TotalEnergies et Vanguard Renewables, société du portefeuille de l’activité Infrastructure de BlackRock, s’associent pour développer le biométhane aux Etats-Unis • Business Wire • 04/24/2024 06:29:00 AM
- TotalEnergies and Vanguard Renewables, a Portfolio Company of BlackRock’s Diversified Infrastructure Business, Join Forces to Develop Renewable Natural Gas in the United States • Business Wire • 04/24/2024 06:29:00 AM
- Republic of Congo: TotalEnergies Increases Its Interest in Giant Field Moho and Divests Two Mature Assets • Business Wire • 04/24/2024 06:10:00 AM
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- TotalEnergies Begins Construction of 12 MW Solar Project at New York's JFK Airport • PR Newswire (US) • 04/23/2024 05:34:00 PM
- TotalEnergies : Déclaration des Transactions sur Actions Propres • Business Wire • 04/22/2024 04:00:00 PM
- TotalEnergies: Disclosure of Transactions in Own Shares • Business Wire • 04/22/2024 04:00:00 PM
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- Oman : TotalEnergies lance le projet Marsa LNG et déploie sa stratégie multi-énergies au Sultanat d’Oman • Business Wire • 04/22/2024 06:48:00 AM
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- TotalEnergies Marketing USA and OK Petroleum announce strategic partnership to bring high performance products to Long Island, NY • PR Newswire (US) • 04/19/2024 01:47:00 PM
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- Déclaration commune de l'État indépendant de Papouasie-Nouvelle-Guinée et de TotalEnergies • Business Wire • 04/08/2024 06:26:00 AM
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