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.
A post-result bounce in the Commonwealth Bank of Australia (ASX: CBA) share price helped lift the Australian share market on Wednesday.
Investors looking for exposure to ASX energy shares have undoubtedly asked themselves which company is better placed to generate superior returns – Woodside Energy Group Ltd (ASX: WDS) or Santos Ltd (ASX: STO).
The Australian share market or S&P/ASX 200 (INDEXASX: XJO) is expected to open higher on Tuesday, according to SPI 200 futures contracts in Sydney.
The Santos Ltd (ASX:STO) share price is in the red even though the ASX oil and gas share just revealed a major upgrade to its payouts.
The S&P/ASX200 (INDEXASX: XJO) gained another 0.4 per cent on Tuesday with a broad-based rally managing to overcome a selloff in the energy sector. The staples and utilities sectors were strongest gaining 1.3 and 1.4 per cent, with healthcare and financials not far behind. Energy, however, fell by more than 2.3 per cent on a weaker oil price and talk of further intervention.
The S&P/ASX200 (INDEXASX: XJO) rose 0.3% on Wednesday as the Megaport Ltd (ASX: MP1) share price dived and Pilbara Minerals Ltd (ASX:PLS) share price rises.
A strong lead-in from Wall Street gave solid impetus to the Australian market on Tuesday, and the result was a lift of 114.8 points, or 1.7 per cent, in the benchmark S&P/ASX 200 (INDEXASX: XJO) Index, to 6779.2; while the broader S&P/ASX All Ordinaries (ASX: XAO) index added 121.9 points, or 1.8 per cent, to 6976.2. The ASX 200 is off to a positive start on Wednesday morning.
The Santos Ltd (ASX:STO) share price is up today after announcing it has received an offer for a stake in PNG LNG.
The S&P/ASX 200 (INDEXASX:XJO) was mostly flat on Tuesday. ASX tech shares like WiseTech (ASX:WTC) led the ASX 200 higher on Monday.
