TotalEnergies Surges on Brent Crude Breakthrough Amid Premium Valuation

TotalEnergies, the global oil and gas giant, rose by approximately 2.0% to $88.0801 in U.S. trading on Monday as Brent crude broke above $90.

The energy sector caught the oil-price surge despite rising bond yields that dragged on the broader European market.

TotalEnergies entered the rally with significant financial firepower, generating $9.8 billion in cash flow and $6 billion in adjusted net income during the second quarter.

The company cut its gearing to 13% and lifted its quarterly dividend by 5.9% to $0.90 per share.