I'm glad you made a nice return but I think you may have hit the sell button a bit early. I'm totally confident that this stock will hit upper $60's in 2011. Maybe into the $70's. Very undervalued with a dividend that people want.
Well Goldman has it rated sell, but who cares what the brokers say? Total is trading at 7x forward earnings and pays a hefty dividend, and could use their FCF for buybacks or a dividend hike. And the Euro crisis is already baked into the stock price. Why would you sell when this stock has been beaten down to these levels with so many potential upside catalysts?
If so, it is strange that they haven't changed their position is some time. But you are right, who cares what an analyst at any B/D says about a stock. Sometimes you look at these reports that have a strongly worded 'bearish' headline, and in the report they gush over the stocks long term potential.
The way I am playing this one is to write the 55 for Feb, and the 60s for May, fully covering the postion. I will do this tomorrow. I think you can pick up a few ex's on the way to getting called out, but the total (no pun intended) return will be substantial.