Santos Ltd (ASX:STO) is one of Australia’s largest oil and gas companies. Founded in the 1950’s, Santos owns and operates one of Australia’s largest portfolios of oil and gas fields, connected by extensive pipelines and complementary facilities.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.77% at lunch.
Santos Ltd (ASX:STO) has announced a very large acquisition to investors, is the share price a buy on the news?
The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.09% on Friday.
We could see the shares of Santos Ltd (ASX:STO), Oil Search Limited (ASX:OSH) and Beach Energy Ltd (ASX:BPT) fall today.
The oil price could soar this week after events in the Middle East, which could send the share prices of Santos Ltd (ASX:STO) and Beach Energy Ltd (ASX:BPT) soaring.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.44% at lunch.
The Santos Ltd (ASX:STO) share price is trading near its 12 month high after the company delivered a drastically improved half year result yesterday. However, it’s not enough to change my skeptical view.
Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.33% at lunch.
The Santos Ltd (ASX:STO) share price is down around 2% after releasing its June 2019 quarter report.
