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Potential Buy Entry Alert to Watch STO
Time Frame : Daily/Weekly
Sector : Energy
Key Stats : $15.06 Billion Market Cap, VWAP 7.211, ASX Ranking 29, 4 Week Av Turnover $34,840,373, Current Turnover (Intraday as at time of alert) $10,807,327, PE 16.9, Div Yield 1.85%.
Company Overview : Santos Limited (STO) operates in the exploration, development, production, transportation and marketing of hydrocarbons. Santos produces natural gas to Australian, Indonesian and other Asian markets, and develops oil and liquids businesses in Australia, Indonesia and Vietnam. Santos also focuses on transformational liquefied natural gas (LNG) strategy and has interests in four LNG projects in Australia.
Broker Consensus : BUY
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STO – Santos Limited
STO is looking good on the long term charts as price has been consolidating between 7.40 and 6.55 for the best part of the year. Price has some work to do to break up and out of this consolidation and convince buyers that a new run up to potentially 11.50 is on the cards. Oil is still range bound but find continued supply constraints capping the buying. Watching to see how the action plays out.
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Stock Code : STO – Santos Limited
Company Website : www.santos.com
Current Price : 7.215
Status : On watch for potential higher low and push up through 7.50
