Woodside overvalued as IMO it will struggle to keep paying div and franking going forward and some legacy issues will bite. On the other side if they stop being so woke and avoid any project delays / court cases and come in on budget for any new gas there is upside.
STO if no new legal challenges and manages to not have budget or time blowouts ( beyond obvious expected from current bullcrap) and PNG settles will be churning out more cash and hopefully gas demand curve stays as expected or improves STO looks good and should get a massive premium. All the ducks line up - well it never happened for OSH and STO seems similar as always something on the horizon to take edge of it having a run. Compo for court case with be a bonus but not of massive scale I suspect as will be about costs and not about lost project opportunity.
Instos pair trading relative value on STO WDS called it right with STO increase and WDS decrease but they are also gambling on a further takeover premium. If T/ doesn't eventuate there is downside and they will overdo it trying to get out. They probably won't cover yet with shorts but if you see shorts rising it may be a hint that T/O is not going forwards as expected and they are covering or legging out of pairs.
Not sure what reaction will be for WDS if T/O doesn't proceed?
STO Well positioned, page-499
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Last
$6.72 |
Change
0.030(0.45%) |
Mkt cap ! $21.82B | |||
| Open | High | Low | Value | Volume |
| $6.74 | $6.77 | $6.72 | $43.42M | 6.449M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 55681 | $6.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.73 | 10465 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| STO (ASX) Chart |