How did Santos (ASX: STO) Perform in 2023

2 min read | December 26, 2023 01:21 PM AEDT | By Team Kalkine Media

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Santos Ltd (ASX:STO) has showcased a 7.06% year-to-date increase as the final trading days of 2023 approach. The stock commenced the year at AU$7.08 apiece and is presently trading at AU$7.58 apiece.

Current Stock Performance and Dividend Analysis

During the past year, Santos delivered unfranked dividends of 36 cents per share, reflecting a trailing yield of 4.7%.

Forecasting the Santos Share Price in 2024

Major Projects Under Development - Santos has significant projects in development, including the Pikka Phase 1 project in Alaska, the Barossa project near the Northern Territory, and the Moomba carbon capture project in South Australia.
Legal Issues Impacting Projects - The outcome of legal issues surrounding the Barossa project can significantly affect the Santos share price in 2024.
Volatility in Oil Prices - Fluctuations in oil and gas prices, along with global demand trends, will influence Santos' profitability and, in turn, its share price.
Potential Merger with Woodside Energy Group - Ongoing discussions regarding a merger with Woodside Energy Group may have implications for Santos shareholders, as the potential merger might affect the stock's valuation.

Analysis of Oil Price's Impact on Santos in 2024

With global oil demand projected to increase, Santos' production guidance for 2024 aims slightly below the 2023 figures. Factors like OPEC's production cuts and geopolitical tensions in oil routes might shape oil prices.

Conclusion

Santos Ltd's future stock performance in 2024 hinges on multiple factors, including oil prices, ongoing projects, legal outcomes, and potential mergers.

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