Shares of TotalEnergies SE (TTE) are moving higher in Monday's premarket, bucking a weaker trend in the broader market. While Nasdaq and S&P 500 futures are both down about 0.61%, energy stocks are having a moment—and TotalEnergies is right in the thick of it with some news that explains why.

A Big Find Off the Coast of Congo

Let's start with the old-school energy play. On Monday, the company reported a hydrocarbon discovery on the Moho license, which is offshore the Republic of the Congo. They drilled a well called MHNM-6 NFW, targeting something called the Moho G structure, and hit pay dirt: a hydrocarbon column roughly 160 meters thick in what are known as Albian reservoirs.

Combine this new find with a prior discovery at a spot called Moho F, and you're looking at an estimated nearly 100 million barrels of recoverable resources. That's a serious amount of oil.

The smart part of the plan is how they'll get it out. TotalEnergies says it will develop these reserves by tying them back to the existing Moho infrastructure. In oil and gas, that's often the cheaper, faster way to go—you don't have to build a whole new production platform from scratch. TotalEnergies EP Congo operates the license with a 63.5% stake. Its partners are Trident Energy (21.5%) and Société Nationale des Pétroles du Congo (15%). The existing facilities there are already producing about 90,000 barrels of oil equivalent per day.

And a Big Bet on Asia's Clean Energy Future

Now, here's the other side of the modern energy giant's playbook. Earlier this month, TotalEnergies unveiled a major clean energy partnership aimed squarely at Asia's growth.

The French energy giant is forming a 50/50 joint venture worth $2.2 billion with Abu Dhabi Future Energy Company PJSC, better known as Masdar. They're basically combining their onshore renewable energy portfolios across nine countries.

The venture will start with about 3 gigawatts (GW) of operational capacity and has another 6 GW in development, with projects expected to come online by 2030. So, while they're pulling more oil out of the ground in Africa, they're also laying the groundwork for a lot of solar and wind power in Asia. It's the classic "energy transition" story, playing out in real time.

What the Charts Are Saying

The broader market took a dip on Friday, with the S&P 500 down 0.58% and the Nasdaq off 0.68%. But the energy sector rose 2.25%, and TotalEnergies is riding that wave.

At $93.12, the stock is trading 4.2% above its 20-day simple moving average (SMA) of $89.24. That suggests a pretty strong short-term trend. It's also sitting 25.8% above its 100-day SMA of $73.91, which points to solid intermediate momentum.

The relative strength index (RSI) is at 68.22. For those keeping score at home, an RSI above 70 is typically considered "overbought," so we're getting close. That can mean the stock is seeing strong buying pressure, but it also hints that a pullback might be due if the momentum stalls.

• Key Resistance: $93.50 — This price level might act as a ceiling for further gains.
• Key Support: $76.50 — A drop down to this area could signal a reversal in the current uptrend.

Earnings Are Around the Corner

Mark your calendars: TotalEnergies is scheduled to report its next financial update on April 29, 2026.

• EPS Estimate: $2.01 (That's up from $1.83 last time)
• Revenue Estimate: $45.60 Billion (That's down from $52.25 Billion)
• Valuation: The stock trades at a P/E of 16.0x, which generally indicates a fair valuation.

Analysts, on average, have a Buy rating on the stock with a price target of $70.72. But there's been some recent movement in analyst opinions:

• Piper Sandler: Neutral rating, but they raised their target price to $92.00 on March 12.
• JP Morgan: Upgraded the stock to Overweight on March 2.
• Freedom Broker: Downgraded to Sell on February 13, though they maintained a $73.00 target.

How the Stock Stacks Up

Looking at various scoring metrics, TotalEnergies shows a particular profile:

• Value Rank: 87.74 — This is a high score, suggesting the stock is considered a strong value compared to its peers.
• Growth Rank: 51.95 — This indicates moderate growth potential, not explosive but not stagnant either.
• Momentum Rank: 91.2 — This very high score confirms the stock is significantly outperforming the broader market right now.

The takeaway here is a stock with a strong value argument and powerful momentum behind it, which often makes for an interesting setup in the energy sector.

ETF Exposure: Why Fund Flows Matter

TotalEnergies isn't just traded on its own; it's a component in several major exchange-traded funds (ETFs). That means when money moves into or out of these funds, it can force automatic buying or selling of TTE shares. Here are the key ETFs and how much TTE they hold:

• SPDR DJ Euro STOXX 50 ETF (FEZ): 2.86% Weight
• SPDR S&P Global Natural Resources ETF (GNR): 2.77% Weight
• Invesco FTSE RAFI Developed Markets ex-US ETF (PXF): 1.36% Weight

Because TTE makes up a meaningful chunk of these funds, significant investor inflows or outflows for the ETFs can create built-in demand or selling pressure for the stock itself.

Price Check: TotalEnergies shares were up 0.70% at $93.30 during Monday's premarket trading.