By Barbara Kollmeyer Order Reprints Text size A general view of a Total petrol station in Kampala, Uganda, on Jan. 28, 2020. AFP via Getty Images They say it’s lonely at the top. For France’s Total, years of dominance on the oil patch are over, say analysts at Cowen, who downgraded the company to market perform from outperform in a note to clients on Tuesday. Jason Gabelman and George Kuhle say they continue to like Total’s strategy, but it faces a tougher two years ahead. “TOT is trading at an elevated premium versus peers while we expect its balance sheet advantage to shrink to in-line with peers. Production growth will slow after leading the group while nonproductive capex rises,” says the pair.