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Updated view on Santos Ltd (ASX:STO)

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Question asked 24/04/2026

Updated view on Santos Ltd (ASX:STO)

Good afternoon Market Matters, From April 16 report "we would consider STO into weakness, ideally below $7.50, only 3-5% lower, but there’s no hurry yet." STO is currently trading $7.44, so has there been any change to your view of value below $7.50????? Thanks

Answer

Hi Peter,

No change to our view, it’s just that at MM we run/manage real money portfolios hence we can’t buy all the stocks we like. In a nutshell:

We remain committed to the energy sector which has already advanced ~48% over the last 12-months, noting it was already rallying before the Iran war broke out.
At this stage we hold an overweight position to the sector via Paladin (ASX:PDN) and Whitehaven Coal (ASX:WHC) in the Growth Portfolio.
We are constantly reviewing whether we tweak this exposure while still maintaining an overweight position towards energy.

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Santos Ltd (ASX:STO)

LAST UPDATED 23/04/2026 11:12

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