Ord Minnett keeps Hold rating on Santos stock with AUD 8.40 target

Published on 10/24/2026 at 19:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Santos produced 26.3 million barrels of oil equivalent in Q3 2026, up 14 percent. Santos stock costs EUR 5.73 on October 24, 2026.

Analyst view and operating figures

Ord Minnett maintained a Hold rating and set an AUD 8.40 target on October 22, 2026.
Santos produced 26.3 million barrels of oil equivalent in the third quarter of 2026, up 14 percent from the prior quarter.
Santos stock costs EUR 5.73 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST.

Santos, AU000000STO6, Illustration mit AI erstellt.

Santos (AU000000STO6) remains rated Hold by Ord Minnett, which set an AUD 8.40 price target on October 22, 2026, according to Markets Insider. Santos stock was priced at EUR 5.73 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST.

Production reached 26.3 million barrels

Santos reported record production of 26.3 million barrels of oil equivalent for the third quarter of 2026, up 14 percent from the prior quarter and 23 percent from the prior corresponding period. The company also recorded third-quarter sales volumes of 26.4 million barrels of oil equivalent, an 11 percent increase from the prior quarter.

Sales revenue reached USD 2,006 million in the third quarter, up 49 percent from the prior quarter and 78 percent from the prior corresponding period. The figures were published in Santos' third-quarter report dated October 21, 2026.

Cash flow and output guidance

Free cash flow from operations reached approximately USD 1,069 million in the third quarter of 2026, while free cash flow was approximately USD 957 million. Santos narrowed its 2026 production guidance to 99 to 102 million barrels of oil equivalent from 99 to 105 million previously.

Rigzone reported on October 22, 2026 that higher sales volumes lifted revenue, while Santos also cited temporary production interruptions at its Pikka project. The company said Pikka production would be held briefly for reservoir management before a planned ramp-up.

What comes next for Santos?

Santos' investor calendar lists the 2026 third-quarter report for October 22, 2026, while the company's report also points to a planned Papua LNG final investment decision in the fourth quarter of 2026. The Ord Minnett target of AUD 8.40 provides a dated analyst reference in Australian currency, separate from the euro quotation used for German-market investors.

Price and analyst reference

Santos combines record third-quarter output with a narrower annual production range. The EUR 5.73 quotation at Lang & Schwarz is an intraday price dated October 24, 2026, and no Xetra comparison is included here.

The further course of trading is shown by the continuously updated real-time quote of Santos stock.