TOT

Total Shs Sponsored American Deposit Receipt Repr 1 Sh -B-

Energy


Presented:07/08/2015
Price:$46.77
Cap:$96.62B
Current Price:$64.73
Cap:$149.52B

Presented

Date07/08/2015
Price$46.77
Market Cap$96.62B
Ent Value$125.53B
P/E Ratio31.6x
Book Value$38.90
Div Yield5.78%
Shares O/S2,287.06M
Ave Daily Vol1,180,000
Short IntN/A

Current

Price$64.73
Market Cap$149.52B
TOTAL SA operates as an oil and gas company worldwide. The company operates through three segments: Upstream, Refining & Chemicals, and Marketing & Services. The Upstream segment explores and produces oil and gas; ships, trades, and markets natural gas, liquefied natural gas, and liquefied petroleum gas (LPG); generates power; and mines and markets coal. The Refining & Chemicals segment refines and produces petrochemicals; and provides sealing, insulation, fluid transfer, and transmission and transportation solutions, as well as offers chemical processes and services for electronics, surface finishing, and semiconductor manufacturing. It is also involved in trading and shipping crude oil and petroleum products. The Marketing & Services segment supplies and markets petroleum products, including automotive fuels, biofuels, home heating oil and heavy fuel oil, lubricants, LPG, asphalt, aviation fuel, additives and special fuels, and special fluids through service stations for light vehicles and trucks. It also develops renewable energies with a focus on solar and biomass. TOTAL SA was founded in 1924 and is based in Paris, France.

Publicly traded companies mentioned herein: Repsol SA (REP SM), Total SA (TOT)

Highlights

Shares of French integrated oil and gas company Total SA have risen ~20% in euros (FP FP) and 7% in US dollar terms (the ADRs, TOT) over the past 2 years. With oil down 50% over the past 12 months and Total’s exposure to Indonesia and some other low value (EBITDA/barrel) markets - primarily Russia - the presenter sees a favorable risk/reward on a short position in TOT at this time. Based on a "fair", marked to market sum of the parts analysis he said there is roughly a 20% - 25% return potential on the trade, with minimal upside risk.

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Idea Discussion

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