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In my portfolio I am holding a large number of Santos shares and at present am only a couple of hundred dollars in the red after being thousands behind. Seeing as Santos no longer pay a dividend would it be wise to sell at current levels and invest elsewhere?
Thank you.
A: Like many, I have been surprised by the strength in oil prices, however, there is no doubting that the trend is up.
You have worn a lot of pain when the oil price collapsed, and leveraged producers like Santos got hid really hard.
Now, Santos has cleaned up its balance sheet and is riding the wave up of higher oil and lng prices, and possible corporate activity.
My inclination would be to hang on.
For what it is worth, the major brokers are marginally positive on Santo with 3 buy recommendations and 4 neutral recommendations. According to FN Arena, the consensus target price is $5.27, approximately 4% lower than the last market price of $5.52.
