06/09/2024 09:25

Santos Ltd (STO) $7.02

STO has traded sideways for over 3 ½ years, begging the question of why 2024/5 will be any different. The company’s result disappointed last month, seeing the stock quickly retreat towards $7, although the whole sector struggled. After failing to agree on a merger deal with WDS earlier this year, the $22.8bn oil and gas company has garnered some further takeover speculation, with Saudi Arabia and the UAE touted as potential suitors.

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22/08/2024 09:31

Santos Ltd (STO) $7.48

Australia's second-largest oil and gas producer, STO, fell -4.35% on Wednesday after its 1H income missed estimates, sending the stock down to its lowest level in two months.

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13/02/2024 09:28

Santos Ltd (STO) $7.34

STO has followed the path of many in the sector over recent years, basically going nowhere. While there is a lot of pressure on STO to 'make something happen' in terms of value creation/getting the share price up, these things don't just happen and their focus in recent times has been on the now defunct tie up with Woodside. 

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07/02/2024 16:39

Santos (STO) $7.41 /Woodside Energy (WDS) $32.46

STO -5.84% / WDS +0.53%: Stocks entered a trading halt this morning with the announcement that they’ve called off any potential merger talks because there was no clear value creation on offer. WDS was seen as the buyer, and STO the seller, so STO had been the big beneficiary in terms of relative share prices in recent months.

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09/11/2023 09:12

Santos Ltd (STO) $7.33

STO closed unchanged on Wednesday, close to its June swing low as tumbling crude oil prices weighed on the energy sector, although the stocks didn’t fair too badly under the circumstances. We believe the aggressive decline by oil over the last few weeks, even as war continues between Israel and Hamas, is a testament that investors and traders are voting for a global economic slowdown into 2024.

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25/10/2023 09:16

Santos Ltd (STO) $7.85

Following our exit from Woodside (WDS) and the decline by oil overnight, we thought today was an opportune time to revisit fellow ASX Energy Sector play Santos (STO), a stock often discussed negatively, but it is up over +9% year-to-date. As with many ASX50 stocks, the key to adding alpha to a portfolio is timing around entry and exit.

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14/09/2023 09:21

Santos Ltd (STO) $7.74

Santos is often considered by investors as an oil/energy play but in 2022 its revenue showed it to be far more of an LNG stock i.e. crude oil 14%, gas & ethane 16%, and 61% from LNG. At this stage MM would prefer to have oil, and indeed uranium, for energy exposure as opposed to LNG especially since the recent uncertainty created with Japan.

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24/08/2023 09:35

Santos (STO) $7.73

1H23 results from the Oil & Gas company were slightly lower than expected yesterday across most metrics, although net profit after tax (NPAT) of $801m was aligned with consensus driven by a more favourable tax benefit (making it lower quality). Higher LNG plant and pipeline costs were evident while distributions were below their guided range.

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07/07/2023 09:28

Santos Ltd (STO) $7.57

STO has struggled to participate in any market gains through 2023, a frustrating position for many no doubt as this is a company analysts love. An underappreciation of their capex requirements we think is to blame while the energy sector more broadly tends to be very interest rate/recession correlated i.e. higher rates slows the economy which reduces the demand for oil and gas. We anticipate weaker sales in 2Q23 than current consensus estimates due to softer realised pricing but global oil fundamentals continue to support our view that a material supply deficit of nearly 2Mb/d will emerge over 2H23 pushing oil prices higher.

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07/07/2023 09:27

Energy Special – BUY HOLD SELL

Lead Portfolio Manager James Gerrish discussed the Energy Sector more broadly last week on Livewire markets. Joe Wright from Airlie covers Santos (STO) as their No 1 pick in the energy space.

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