On Tuesday, May 5, 2020, French oil and gas supermajor Total S.A. (TOT) announced its first quarter 2020 earnings results. At first glance, these results were rather disappointing as the company missed the expectations of its analysts in terms of both top-line revenues and bottom-line earnings. Total was also one of the few large energy companies that has not yet reduced its dividend, which may comfort some investors. With that said though, few industry watchers expected the company to perform well given the current low energy price environment and global oversupply of both