Macquarie keeps Buy on Santos stock with AUD 9.35 target

Published on 10/01/2026 at 19:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Santos will pay USD 189 million for a 3.3 percent Papua LNG stake. Santos stock costs EUR 5.22 on October 1, 2026 after EUR 5.27, minus 0.95 percent.

Santos, AU000000STO6, Illustration mit AI erstellt.

Santos stock (ISIN AU000000STO6) was trading at EUR 5.22 at Lang & Schwarz on October 1, 2026 at 7:35 p.m. CEST in after-hours trading, down 0.95 percent versus the prior close of EUR 5.27 on September 30, 2026. On September 27, 2026, Macquarie maintained a Buy rating on Santos and set an AUD 9.35 price target, according to Markets Insider. Santos also agreed to increase its Papua LNG interest, a transaction dated September 7, 2026.

Papua LNG stake rises to 21 percent

According to Santos, the company will acquire an additional 3.30 percent participating interest in Papua LNG for USD 189 million, subject to regulatory approvals and a final investment decision. The transaction would lift Santos' participating interest to 21.00 percent and is expected to increase its equity LNG production from the project by 19.00 percent to 1.20 million tonnes per year.

The final investment decision is planned for the fourth quarter of 2026, while the acquisition would be effective from January 1, 2026. That structure leaves execution and approval milestones as the central counterweight to the project's production upside.

Macquarie target exceeds consensus

Macquarie's AUD 9.35 target is AUD 0.60 above the AUD 8.75 consensus target cited by Markets Insider, a 6.86 percent premium to consensus. The same source identifies a one-year high of AUD 8.81 and a one-year low of AUD 5.90, showing how the broker target sits above the recent quoted range.

Santos reported its 2026 half-year results on August 19, 2026. Motley Fool Australia said sales revenue rose 2.00 percent year over year and production volumes increased 1.70 percent in the half-year fiscal 2026 results.

Santos stock remains below prior close

Santos stock was trading at EUR 5.22 at Lang & Schwarz on October 1, 2026 at 7:35 p.m. CEST in after-hours trading, down 0.95 percent versus the EUR 5.27 prior close of September 30, 2026. Santos' investor calendar lists October 22, 2026, for the 2026 third-quarter report, according to Santos.