NYSE:NU

Stock Market Today

  • Santos shares hit four-year high as LNG projects drive growth
    May 27, 2026, 4:47 PM EDT. Santos Ltd shares (ASX: STO) climbed to a four-year high, up 28% YTD, driven by strong performance in its Barossa LNG project producing at 75% of 2026 planned rates. Management outlined cost-cutting initiatives aimed at boosting free cash flow margins and confirmed first oil from Alaska's Pikka Phase 1 by May 2026. Rising oil prices above $105/barrel on Middle East tensions have increased Santos' revenue, with Q1 sales reaching $1.27 billion, a 3% rise from the prior quarter. However, shares dropped 5% recently amid profit-taking and oil price declines due to potential US-Iran peace talks, highlighting geopolitical risk as a key factor for investors to monitor.