ReutersReuters

Citi sees capex easing for Australia's Santos as Pikka, Barossa projects advance

Refinitiv閱讀少於1分鐘

** Citi expects capital expenditure (capex) to ease for Santos STO in calendar year 2026, driving free cash flow (FCF) higher, as its Pikka and Barossa projects near completion

** Brokerage estimates about $250 million in gross capex savings at the oil and gas giant's Barossa project

** A 30% beat in FCF from operations doesn't translate to a 30% higher interim dividend, all else being equal - Citi

** Company reported $620 million in Q2 FCF

** Brokerage forecasts an interim dividend of 10 Australian cents per share and a final dividend of 12 Australian cents per share

** Last year, company declared an interim dividend of 13 U.S. cents and a final dividend of 10.3 U.S. cents

** Twelve analysts on average rate the stock "buy"; with a median price target of A$8.4, according to data compiled by LSEG

** YTD, STO up 16.3%, as of last close

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