Santos stock: Macquarie maintains Buy rating at AUD 9.55 target for Santos stock

Published on 10/22/2026 at 21:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue rose 78 percent to USD 2.01 billion. Santos stock costs EUR 5.69 on October 22, 2026, down 0.59 percent versus Tradegate.

Analyst target and operating figures

Macquarie maintained its Buy rating and set an AUD 9.55 target on October 21, 2026.
Third-quarter sales revenue rose 78.00 percent to USD 2.01 billion.
Santos stock costs EUR 5.69 at Lang & Schwarz on October 22, 2026 at 9:39 p.m. CEST, down 0.59 percent versus the Tradegate close of October 20, 2026.
Papua LNG is planned to reach final investment decision in the fourth quarter of 2026.

Santos, AU000000STO6, Illustration mit AI erstellt.

Santos is covered by a fresh Macquarie target of AUD 9.55, while the broker maintained its Buy rating in a report dated October 21, 2026, according to Markets Insider. That target stands 3.92 percent above the ASX price of AUD 9.19 on October 22, 2026 at 3:11 p.m. AEDT. Santos stock was trading at EUR 5.69 at Lang & Schwarz on October 22, 2026 at 9:39 p.m. CEST, down 0.59 percent versus the Tradegate close of October 20, 2026 at EUR 5.72.

Revenue growth meets tighter guidance

Santos reported third-quarter sales revenue of USD 2.01 billion, up 78.00 percent from USD 1.13 billion a year earlier, while production reached a record 26.3 million barrels of oil equivalent, 23.00 percent above the prior-year quarter. Reuters reported the figures on October 22, 2026.

The stronger quarter came with a narrower production outlook. Santos now expects 99 million to 102 million barrels of oil equivalent in 2026, compared with 99 million to 105 million previously, after disruptions at the Pikka project in Alaska.

How does the price position look?

On the ASX, Santos last traded at AUD 9.19 on October 22, 2026 at 3:11 p.m. AEDT. The 52-week range was AUD 5.90 to AUD 9.36, placing the stock 1.82 percent below its high. Year-to-date performance was 48.95 percent, with 12,140,725 shares traded.

What supports the valuation?

Santos had a market capitalization of AUD 29.8 billion and a price-to-earnings ratio of 28.04 as of October 22, 2026. Woodside Energy traded at AUD 32.77 with a 14.29 ratio and AUD 62.1 billion market capitalization, while Origin Energy traded at AUD 12.09 with a 13.29 ratio and AUD 20.8 billion market capitalization.

Which dates matter next?

Santos reported its third-quarter results on October 22, 2026. The company said Papua LNG was planned for a final investment decision in the fourth quarter of 2026, subject to regulatory approvals, according to its Santos release.

Comparison with peers

Santos: down 0.59 percent versus the Tradegate close of October 20, 2026, price-to-earnings ratio 28.04, market capitalization AUD 29.8 billion.

Woodside Energy (ASX, AUD): down 3.50 percent, price-to-earnings ratio 14.29, market capitalization AUD 62.1 billion.

Origin Energy (ASX, AUD): up 0.33 percent, price-to-earnings ratio 13.29, market capitalization AUD 20.8 billion.

Target and project timing

Macquarie's AUD 9.55 target gives the stock a 3.92 percent distance above its AUD 9.19 ASX price. The operating update also leaves Papua LNG as a dated project milestone for the fourth quarter of 2026. Santos stock was trading at EUR 5.69 at Lang & Schwarz on October 22, 2026 at 9:39 p.m. CEST, down 0.59 percent versus the Tradegate close of October 20, 2026 at EUR 5.72. The further course of trading is shown by the continuously updated real-time quote of Santos stock.