Total Stock Has Fallen 21% This Quarter



Total stock compared to oil prices and markets

Total (TOT) stock has fallen 21% in the fourth quarter so far. In the same period, crude oil prices and equity markets have also slumped. WTI (West Texas Intermediate), the benchmark oil, has fallen 39% in the current quarter. Plus, the SPDR S&P 500 ETF (SPY), a broader market indicator, has declined 17% in the fourth quarter so far.

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Total stock has fallen in the fourth quarter so far

Total stock has fallen in all three months of the current quarter so far. Similarly, oil prices have declined in all three months. However, at the end of October, Total stock’s downtrend paused briefly. The pause was due to its third-quarter earnings. In Q3 2018, Total’s adjusted EPS stood at $1.5, which surpassed Wall Street analysts’ estimated EPS of $1.4. Total’s third-quarter adjusted EPS were its highest quarterly earnings since Q3 2015. Also, Total’s third-quarter adjusted EPS were 42% higher year-over-year.

Nevertheless, with falling oil prices and the weakening equity market, Total stock resumed its downfall. Oil prices fell in the quarter led by concerns regarding global oil demand, which created fear of a global supply glut despite production cuts announced by OPEC. Also, equity markets plunged due to the expectation of weaker global growth. Moreover, trade tensions further impacted the markets.

Peer performance

Equinor (EQNR) and PetroChina (PTR) have fallen 27% and 26%, respectively, in the current quarter. Also, YPF (YPF) and ENI (E) have declined by 17% and 19%, respectively, in the fourth quarter so far.

In the next part, we’ll evaluate Total’s moving averages.


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