Santos versus Woodside shares: Which ASX energy stock outperformed in August?

Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) shares were in focus in August as both S&P/ASX 200 Index (ASX: XJO) energy stocks reported their half year results.

Both companies also faced fluctuating oil and gas prices over the month.

The Brent crude oil price started August at around US$90 per barrel, falling to US$79 per barrel by 4 August amid promising Middle East peace negotiations. But as those negotiations faltered, oil marched higher again to end August right about where it started, at around US$90 per barrel, according to data from Bloomberg.

By market close on 31 August, one of the ASX 200 energy stocks had materially outperformed the 1.1% gains posted by the benchmark index over the month, while the other finished in the red.

Here’s what’s been happening.

Woodside shares slip in August

Woodside shares were the underperformers in August, closing the month down 1.6% at $32.42 apiece.

Woodside reported its half year results on 25 August.

Over the six months, the company raked in US$7.45 billion in operating revenue, up 13% year-on-year.

And on the bottom line, Woodside’s net profit after tax (NPAT) of US$1.67 billion was up 27%.

Despite the profit boost, the fully franked interim dividend of 79.5 cents a share was down 2.8% from last year.

That Woodside dividend is still up for grabs, by the way. But not for long. Woodside stock trades ex-dividend tomorrow, 3 September. So if you want to bank that passive income payout, you’ll need to own shares at market close today.

Woodside shares closed down 1.4% on day of the half year results release.

Santos shares outperform

Santos shares outpaced Woodside shares and the ASX 200 in August, gaining 3.8% over the month to close on 31 August at $8.14 apiece.

But Santos performance is actually better than this figure indicates.

That’s because Santos stock traded ex-dividend on 24 August.

So investors who held the stock on 21 August (a Friday) will be receiving that payout on 23 September.

If we add that 16.3 cent per share unfranked dividend back into the 31 August closing price, then the accumulated value of Santos shares gained 5.9% over the month just past.

Atop the dividend news, when Santos released its half year results on 19 August, the company reported a 2% year-on-year increase in sales revenue to US$2.62 billion.

And sales volumes increased by 1.7% to 48 million barrels of oil equivalent (mboe).

Investors also didn’t appear overly concerned about the 19% decline in Santos’ half-year statutory net profit after tax (NPAT), which declined to US$355 million.

Instead, investors look to be focused on the company’s growth potential as its major projects come on line and near completion.

The company provided full calendar year production guidance of 99 to 105 mboe.

Santos shares closed up 2.5% on day of the half year results release.

How have the ASX 200 energy stocks tracked in 2026?

As of early morning trade today, Santos shares are up 37.1% year to date.

Woodside shares have gained 42.1% so far in 2026.

The post Santos versus Woodside shares: Which ASX energy stock outperformed in August? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.