TotalEnergies Stock Holds Firm After Arctic LNG 2 Exit and Strong Q2 Earnings
TotalEnergies' stock price held steady at around $86.97 on August 28, 2026, after the company announced its exit from Russia's Arctic LNG 2 project and released its first half 2026 results.
The French energy giant confirmed that it had completed the transfer of its 10% stake in the project to NordLine, a subsidiary of Russian gas producer Novatek, thereby reducing its direct exposure to Russian liquefied natural gas projects.
This development comes as global LNG prices remain sensitive to supply disruptions and geopolitical risk, which can influence portfolio decisions and valuation multiples for investors.
TotalEnergies' diversified portfolio has helped keep the stock supported despite regional earnings volatility in its Gabon upstream subsidiary, with first half 2026 profits supporting the company's valuation.
The average analyst target price for TotalEnergies shares is $95.42, implying a potential upside of 10.43% from current levels, according to recent market data.