Of the ASX oil stocks, Beach Energy was the worst hit, down 9.95%, trading at $1.63. These moves mirror the decline in oil price, with WTI Crude down 0.51% today — trading at $52.37.
The share price of oil and gas producer Santos Limited [ASX:STO] jumped 4.78% today, adding $0.28 to trade at $6.24 per share.
Santos shares rose 2.6% yesterday, following a sharp spike in oil prices. The comanpy has had a promising year in general. Earlier this year, they issued a new and attractive dividend policy designed to pay out in these intermittent oil price booms.
If you shut out the noise and just follow one thing — the price action — then the signals are that it may be time to start looking at re-positioning your portfolio.
Legendary investor Peter Lynch once said ‘insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.’
Shares in oil and gas producer Santos Ltd [ASX:STO] were a notable winner on Friday’s dreadful day of trading on the Aussie share market...
Shares in oil and gas producer Santos Ltd [ASX:STO] extended their recent poor run today, shedding another 1.5% in a mixed Aussie stock market...