Santos STO announced 2018 full year results with NPAT beating consensus.
FY18 NPAT of US$727m and the final dividend has increased to $0.062.
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We expect to see Santos continue to increase their capital spending over the next 2 – 3 years with the focus being on the Cooper Basin.
Buying pressure will likely abate within equities, and oil prices over the coming weeks. We look to buy STO, WPL, OSH & ORG on the next technical low.
