Tag: Motley Fool

The Elixir Energy Ltd (ASX: EXR) share price has jumped into the green today, finishing up 14.29% to 28 cents.

Let’s have a look at what’s been fuelling Elixir Energy’s share price today.

What’s been happening Elixir Energy?

There has been no market-sensitive information released by the company in September.

However, Elixir shares have been on the up since the company announced it had extended the area of discovery in the Kingston sub-basin back on 25 August.

After a short selloff in the couple of days after this announcement, Elixir shares have been regaining steam ever since.

One other factor that could be aiding this recovery is the recent price rally in the oil markets.

Crude oil has jumped from US$62 a barrel on August 20 to US$72.66 a barrel today. Additionally, the price of Brent crude has edged higher on the day to US$$75.45 a barrel.

Elixir is an ASX resource share that produces a commodity, meaning it is considered a price taker. As such, its share price will fluctuate with volatility in the broader commodities markets.

With this relationship in mind, and given the recent strengths in oil pricing described above, it starts to make sense why the Elixir share price has soared by 14% today.

In the absence of any other market-sensitive information, it appears investors could be buying Elixir shares on the back of strengths in the underlying oil markets.

Elixir Energy share price snapshot

The Elixir Energy share price has climbed 124% this year to date, and 86% over the past 12 months.

These returns have outpaced the S&P/ASX 200 index (ASX: XJO)’s climb of around 25% over the past year.

Despite the recent rally, Elixir shares are still off their 52-week high of 51 cents. However, they are aloft the 52-week low of 9.8 cents.

The post Elixir Energy (ASX:EXR) share price leaps 14% on rising oil prices appeared first on The Motley Fool Australia.

More reading

• Why the Elixir Energy (ASX:EXR) share price is down 20% in 3 months

The author Zach Bristow has no positions 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 Bruce Jackson.

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Yesterday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why these brokers are bearish on them:

Jupiter Mines Ltd (ASX: JMS)

According to a note out of Macquarie, its analysts have downgraded this manganese mining company’s shares to an underperform rating and cut the price target on them to 22 cents. The broker made the move in response to weak prices of lower grade manganese products and higher shipping costs. The Jupiter Mines share price is currently fetching 22 cents on Thursday afternoon.

Lendlease Group (ASX: LLC)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $11.40 price target on this property company’s shares. The broker believes Lendlease should sell its communities business rather than pursue an alternative capital structure. It notes that this segment has not performed well in recent years, when compared to rivals. In addition, the broker has recently spoken about concerns over the sustainability of Lendlease’s production targets. The Lendlease share price is now trading below this price target at $11.22 but Morgan Stanley isn’t in a rush to change its rating.

Xero Limited (ASX: XRO)

Another note out of Macquarie reveals that its analysts have retained their underperform rating and $130.00 price target on this cloud accounting company’s shares. Macquarie notes that rival Intuit (Quickbooks) has acquired email marketing company Mailchimp for US$12 billion. The broker has concerns that Intuit may remove Mailchimp’s integration with Xero. If this happens, it suspects that some subscribers may jump ship. In addition, it feels that Intuit’s stronger offering could help it with its global expansion and dampen Xero’s growth. The Xero share price is currently fetching $150.79.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• What $10,000 invested in Xero (ASX:XRO) shares 5 years ago would be worth today
• 2 growing ASX shares that analysts rate as buys
• Why AGL, BHP, IRESS, & Lendlease shares are dropping
• 2 ASX shares that won’t stay cheap: fund manager
• Is the Xero (ASX:XRO) share price heading to $165?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Downer EDI Limited (ASX: DOW) share price soared to a new 52-week high today.

Its gains came about despite the company not having released news to the market in more than a month. Though, the market’s excitement over Downer’s financial year 2021 earnings might be continuing to boost its shares.

At the final bell today, the Downer share price is $6.67, 1.52% higher than its previous close. However, earlier today it reached $6.79, which represented a 3.3% gain and a new 52-week high.

Let’s take a look at the latest news from the integrated service provider.

The latest from Downer

The Downer share price is in the green today despite the company maintaining its silence.

The last time the ASX heard price-sensitive news from Downer was when it released its earnings for financial year 2021 (FY21).

Then, the company reported its statutory net profit after tax returned to profitability with a bang over the year ended 30 June 2021. Downer’s statutory net profit after tax for FY21 came to $230 million, up from FY20’s $105 million loss.

The increased profits came despite the company’s revenue slipping 8% to $12.2 billion. Though, its bottom line was likely helped along by a 12% decrease in total expenses, which came to around $11.2 billion.

On the back of the company’s FY21 results, the Downer share price gained a respectable 4%. It continued to gain another 10.7% over the following 4 trading sessions.

Additionally, the company has managed to hold onto those gains, and its shares are now up around 16% since it reported its results.

All-in-all, FY21 was a good one for Downer, and its stock has borne the fruit of its strong performance.

Downer share price snapshot

The Downer share price’s recent gains have added to its strong performance on the ASX.

Right now, the company’s stock is 22% higher than it was at the start of 2021. It has also gained 57% since this time last year.

The post Downer (ASX:DOW) share price hits 52-week high, up 16% since reporting appeared first on The Motley Fool Australia.

More reading

• Broker tips Suncorp (ASX:SUN) share price to shoot higher
• Here are the top 10 ASX shares today
• The Telstra (ASX:TLS) share price has a new 52-week high. Here’s why
• Why Accent, Ioneer, Lifestyle Communities, & Vulcan are sinking
• The surging Cettire (ASX:CTT) share price means the company is now bigger than Kogan

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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The Suncorp Group Ltd (ASX: SUN) share price has been on form in 2021.

Since the beginning of the year, the banking and insurance giant’s shares have risen 28% to $12.59.

This means the Suncorp share price is now trading within sight of its 52-week high of $13.26.

Where next for the Suncorp share price?

The good news for shareholders is that one leading broker not only believes the Suncorp share price can go higher, but also that it can make a new 52-week high.

According to a recent note out of Goldman Sachs, its analysts have a buy rating and $13.74 price target on the company’s shares.

Based on the current Suncorp share price, this suggests that there’s still 9% upside over the next 12 months before dividends.

In addition, the broker is forecasting a 61 cents per share fully franked dividend in FY 2022. Combined, this brings the total potential return to just under 14%.

What did the broker say?

Goldman Sachs was pleased with Suncorp’s performance in FY 2021 and notes that it delivered earnings ahead of expectations.

And while it acknowledges that the Suncorp share price has rallied hard this year, it still sees enough value to maintain a buy rating.

Goldman explained: “While it is now harder to argue that SUN is cheap, we have nonetheless maintained our Buy rating, where we see good momentum in the business, plus near-term earnings risks as skewed positively.”

There are four reasons why it believes the risks are skewed to the upside.

They are: “1) provided pressure does not mount on the industry to return recent motor frequency benefits, SUN will almost certainly record gains in 1H22 (potential for c.5% upside in EPS), 2) SUN’s recent reserve development remains well above its normalised 1.5% release assumption and noted relative comfort in the outlook (GSe 1.5% assumed, and a result closer to FY21 experience would equate to c.3% upside), 3) scope for further banking collective provision release (A$60m of A$155m COVID overlay released in FY21), and 4) into FY23 if we were to calibrate to the mid-point of SUN’s insurance margin targets alongside the bank cost/income ratio target we would see c.10% upside.”

The post Broker tips Suncorp (ASX:SUN) share price to shoot higher appeared first on The Motley Fool Australia.

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• This leading fund manager thinks these ASX shares might be buys
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• Why the Suncorp (ASX:SUN) share price is edging higher today
• Afterpay (ASX:APT) share price edges higher amid increasingly crowded BNPL space
• Suncorp (ASX:SUN) share price remains flat despite BNPL offering

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) moved upwards with all sectors showing green. The benchmark index climbed 0.58% higher to 7,460.2 points.

While there were still some shares in the red, the broader market was glowing green at the end of the Thursday session.

The question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Chalice Mining Ltd (ASX: CHN) was the biggest gainer today. Shares in the mining company rose 5.83% despite no announcements. Find out more about Chalice Mining here.

The next biggest gaining ASX share today was Incitec Pivot Ltd (ASX: IPL). The chemical company’s shares rallied 5.09% to $2.89, once again, without any news or announcements. Uncover the latest Incitec Pivot details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Chalice Mining Ltd (ASX: CHN)	$7.81	5.83%
Incitec Pivot Ltd (ASX: IPL)	$2.89	5.09%
South32 Ltd (ASX: S32)	$3.51	4.15%
Healius Ltd (ASX: HLS)	$5.03	3.93%
Latitude Group Holdings Ltd (ASX: LFS)	$2.23	3.72%
Altium Ltd (ASX: ALU)	$35.82	3.41%
Yancoal Australia Ltd (ASX: YAL)	$2.66	3.10%
Bank of Queensland Ltd (ASX: BOQ)	$9.40	2.85%
Whitehaven Coal Ltd (ASX: WHC)	$3.105	2.82%
Woodside Petroleum Ltd (ASX: WPL)	$21.06	2.58%

Our top 10 ASX shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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• This year’s ASX 200 Santa Rally to get a whopping $84bn cash boost
• These 3 ASX 200 shares are the most heavily traded so far this Thursday
• Don’t bet on a big reopening rebound for ASX 200 retail landlords: Macquarie
• Which ASX shares are leading the way on the ASX 300?
• ASX 200 (ASX:XJO) midday update: Telstra unveils T25 strategy, Wesfarmers’ API offer

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Telstra Corporation Ltd (ASX: TLS) share price has a new yearly high.

At close of trade, shares in Australia’s largest telco were trading for $3.95 – up 0.51%. Earlier in the day, shares hit the 52-week milestone of $4.05 each. For context, the S&P/ASX 200 Index (ASX: XJO) ended the day 0.58% higher.

Let’s take a closer look at what could have been driving the Telstra share price today.

What did Telstra announce?

As Motley Fool reported, Telstra released its T25 strategy today. It also told the market about its dividend intentions.

The telco told investors about 4 areas on which it wants to focus in the coming years. This may have excited shareholders and boosted the Telstra share price. These areas are:

1. Telstra is targeting a compound annual growth rate of mid-single digits for underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) and high teens for underlying earnings per share (EPS) from FY21 to FY25.
2. The company is also looking to become a market leader in customer service. Telstra wants to expand into the energy sector and says customers should be able to talk to someone in an Australian call centre or local expert at a Telstra store.
3. Telstra wants to extend its 5G coverage to 95% of the population and remain a market leader in the mobile space.
4. Finally, the telco wants to be in the 90^th percentile for employee engagement.

Also in today’s announcement, Telstra says it is “confident” it can maintain a minimum 16 cent per share dividend, fully franked, for its investors into the foreseeable future.

What else is affecting Telstra shares?

Another possible reason for the record-setting Telstra share price may be positive broker notes about the company. Goldman Sachs is putting a price target of $4.30 per share on the telco.

As Motley Fool has covered before, the brokers at Goldman Sachs believe the telco’s mobile business will continue to drive growth for the company.

Looking a little further back, another reason for the rising Telstra share price may be continuing momentum from its full-year results.

Despite a 10% drop in EBITDA to $6.7 billion, net profit after tax (NPAT) rose 3.4% to $1.9 billion. The company paid a 16-cent full-year dividend and announced a $1.35 billion on-market share buyback.

Looking forward, Telstra said it expects EBITDA to rise to $7 billion in the next financial year.

Telstra share price snapshot

Over the past 12 months, the Telstra share price has increased by almost 40%. It has overperformed the ASX 200 by about 14 percentage points.

Year-to-date, shares in the telco are up by around 32%, which is a 21-percentage point advantage over the benchmark index.

Telstra has a market capitalisation of about $47 billion.

The post The Telstra (ASX:TLS) share price has a new 52-week high. Here’s why appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are the most heavily traded so far this Thursday
• ASX 200 (ASX:XJO) midday update: Telstra unveils T25 strategy, Wesfarmers’ API offer
• Telstra (ASX:TLS) share price rises on T25, dividend growth goal
• Telstra (ASX:TLS) share price on watch after unveiling its T25 strategy
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Marc Sidarous 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 owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In late trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and is storming higher. At the time of writing, the benchmark index is up 0.5% to 7,453.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

Accent Group Ltd (ASX: AX1)

The Accent share price is down 4% to $2.18. Investors may be taking a bit of profit off the table after a very strong gain this week. The catalyst for that was a bullish broker note out of Morgan Stanley. The broker upgraded the company’s shares to an overweight rating with a $2.60 price target on Wednesday.

Ioneer Ltd (ASX: INR)

The Ioneer share price has sunk 18% to 60.5 cents. This follows the release of an announcement that the future-focused mining company has formed a joint venture with the world’s largest primary producer of platinum, Sibanye Stillwater. Part of the deal will see Sibanye Stillwater subscribe for 145.9 million shares in Ioneer via a placement. This is being undertaken at 65.5 cents per share, which represented an 11.5% discount to its last close price.

Lifestyle Communities Limited (ASX: LIC)

The Lifestyle Communities share price has fallen 8% to $20.30. The catalyst for this was news that its founder and CEO, James Kelly, has sold 2 million shares at an average of $21.50 per share. This represents a total consideration of $43 million. Mr Kelly advised that he was selling shares to rebalance his portfolio.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price has dropped almost 8% to $14.68. This morning the clean lithium company announced firm commitments for its $200 million underwritten placement to sophisticated, professional, and institutional investors. Vulcan is raising the funds at an offer price of $13.50 per new share. This represents a discount of 15% to the Vulcan share price prior to its trading halt.

The post Why Accent, Ioneer, Lifestyle Communities, & Vulcan are sinking appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are leading the way on the ASX 300?
• Ioneer (ASX:INR) share price plummets 16% after partnership news
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• Top brokers name 3 ASX shares to buy today
• Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher

Motley Fool contributor James Mickleboro 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 recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Online luxury goods retailer, Cettire Ltd (ASX: CTT) now sports a market capitalisation larger than that of affordable online retailing megalith Kogan.com Ltd (ASX: KGN). Following its share price’s recent rally, Cettire, which doesn’t hold any inventory, has a market capitalisation of around $1.2 billion.

For comparison, Kogan, which faced a slug of inventory issues in financial year 2021, has a market capitalisation of approximately $1.1 billion.

Over the last month, the Cettire share price has gained a massive 41%. Right now, its share price is $3.17, 2.9% lower than its previous close.

Let’s take a look at what’s been driving Cettire on the ASX lately.

The Cettire share price’s incredible run

The Cettire share price is having an great month on the ASX, with its sights set on boosting its value even more.

Right now, the Cettire share price represents 532% more than its prospectus’ offer price of 50 cents per security. The company’s Initial Public Offering (IPO) occurred on 17 December 2020.

Additionally astounding, is that under Cettire’s prospectus’ offer price, it expected a market capitalisation of around $190 million.

The company has seemingly made bank from the luxury goods market. However, it doesn’t hold any of its own inventory and doesn’t liaise with big-name fashion houses.

Instead, Cettire sources products from a diversified network of suppliers that ship directly to customers. It often has multiple suppliers for single products.

Over financial year 2021, the results of which the company announced on 31 August, Cettire’s sales revenue increased by 304%. At the end of the 12-month period, it had around 200,000 products from 1,700 brands on its online store.

Potentially continuing to drive the Cettire share price, is the company’s positive outlook for financial year 2022.

It plans to launch a children’s wear segment, invest into its marketing, increase the number of products available on its platform, and build on and improve its technology to provide positive customer experiences.

The post The surging Cettire (ASX:CTT) share price means the company is now bigger than Kogan appeared first on The Motley Fool Australia.

More reading

• These three ASX retail shares delivered double (and triple!) digit returns in 2021
• Why the Cettire (ASX:CTT) share price is slumping 5% today
• The Cettire (ASX:CTT) share price is up a whopping 500% this year
• Why the Cettire (ASX:CTT) share price rocketed 24% higher on Friday
• ASX reporting wrap-up: Harvey Norman, Cettire, PointsBet

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cettire Limited and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This year’s Santa Rally could be a particularly cheerful season for investors in S&P/ASX 200 Index (Index:^AXJO) shares.

There are predictions that there will be an $84 billion plus spending spree leading up to Christmas and into early 2022!

This bullish prediction is made by high profile Bell Potter trader, Richard Coppleson. He added up all the dividends, cash takeover bids and off-market buybacks to get to that staggering cash pile.

ASX 200 shares get extra shopping cash for Santa Rally

ASX 200 shares tend to outperform from the end of the year – a period that has come to be known as the Santa Rally.

“One of the best times to be long the market has been from mid-October into 31st Dec. But this year it be super charged and [the market] will end the year with a bang,” said Coppleson.

“The sheer amount of cash is mammoth – the largest I have ever seen – that will swamp the Australian market over the next 4 to 6 months.”

He reckons that the cash investors will receive from dividends, bids and buybacks will mostly be reinvested back into the market.

Dividends and M&A galore

Dividends alone make up the majority of the extra investment capital. Investors will receive $40.6 billion in half-year distributions from their ASX shares in September and October.

On top of that, shareholders in Boral Limited (ASX: BLD) who agreed to sell their shares to Seven Group Holdings Ltd (ASX: SVW) have also gotten a $6.1 billion check.

There are a number of other ASX companies that could get acquired for cash in the near-term. This includes the Australian Pharmaceutical Industries Ltd (ASX: API) share price after Wesfarmers Ltd (ASX: WES) agreed to pay circa $800 million for its equity.

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is another that looks likely to change hands. Our largest airport operator has a market cap of over $22 billion.

ASX 200 share buybacks to put extra cash in shareholders’ pockets

The third source of cash comes from off-market share buybacks. This is another popular way for ASX 200 shares to return excess capital to shareholders.

They do this by allowing shareholders to auction their shares back to the company, usually at a discount to the market price.

Foolish takeaway

It could be a rewarding exercise for shareholders as they would typically receive franking credits. Depending on their individual tax circumstances, these credits could be more than enough to offset any loss from selling their shares at a discount.

What’s more, shareholders could get the extra benefit of claiming a capital loss even though they could be making a profit due to the franking credits.

Some ASX 200 shares that have or are currently in the process of undertaking an off-market share buyback include Commonwealth Bank of Australia (ASX: CBA), Viva Energy Group Ltd (ASX: VEA) and Wesfarmers.

Market valuations may look stretched and COVID-19 continues to weigh on the global economy. But it could be a mistake to turn bearish at this point.

The post This year’s ASX 200 Santa Rally to get a whopping $84bn cash boost appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are the most heavily traded so far this Thursday
• These 3 ASX Healthcare shares have surged over 10% today
• Commonwealth Bank (ASX:CBA) faces 30 criminal charges
• Why Anteotech, API, Myer, & Whitehaven Coal shares are charging higher
• Don’t bet on a big reopening rebound for ASX 200 retail landlords: Macquarie

Motley Fool contributor Brendon Lau owns shares of Commonwealth Bank of Australia and Seven Group Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Santos Ltd (ASX: STO) share price has been powering ahead over the past few days. This comes as the energy giant released a positive announcement last week, along with a strong recovery in oil prices.

At the time of writing, the company’s shares are fetching $6.36, up 1.88%. This means the Santos share price is now up more than 5% in a week.

What’s happening with Santos?

Investors have been buying up Santos shares after they traded as low as $5.99 last Thursday.

Santos updated the ASX regarding its merger plans with peer Oil Search Ltd (ASX: OSH) on Friday. It advised the two companies entered into a definitive agreement to combine in an all-scrip transaction.

Oil Search shareholders are set to receive 0.6275 new Santos shares for each Oil Search share held. Upon completion, this would give Oil Search shareholders a 38.5% stake in the newly merged entity. Santos shareholders will retain the remaining 61.5% interest.

The merged group will become the ASX’s largest oil and gas company and a top-20 global player. In essence, this would give the super company a diversified portfolio of long-life and low-cost assets with significant growth options.

It is expected the implementation date will occur on 16 December 2021.

Another reason why the Santos share price could be moving higher is the rising price of the West Texas Intermediate (WTI). Last Thursday, the WTI was trading around US$67.91 per barrel. However, this has now surged to US$72.79 per barrel. This represents an increase of about 7% over the week.

Furthermore, a broker note from UBS raised its price target for Santos shares by 1.8% to $8.45. Based on the current share price, this implies an upside of approximately 32% for investors.

Santos share price summary

This year, the Santos share price had mostly been tracking higher until its drop around mid-June. This has led the company’s shares to remain relatively unchanged for the 9-month period.

Santos presides a market capitalisation of roughly $13.3 billion, with more than 2 billion shares outstanding.

The post Why the Santos (ASX:STO) share price is up 5% in a week appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Why the Woodside (ASX:WPL) share price is leaping 6% today
• ASX 200 energy shares are leading the market on Tuesday
• Santos (ASX:STO) share price rallies 5% on bullish OPEC oil outlook
• ASX 200 energy and materials shares are leading the market on Monday

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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