Santos (OTCMKTS:SSLZY) Shares Down 0.7% – What’s Next?

Shares of Santos Limited (OTCMKTS:SSLZY) were down 0.7% during mid-day trading on Friday . The stock traded as low as $4.16 and last traded at $4.17. Approximately 162,866 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 129,235 shares. The stock had previously closed at $4.20.

Analysts Set New Price Targets

SSLZY has been the subject of a number of recent analyst reports. Sanford C. Bernstein upgraded Santos from a “market perform” rating to an “outperform” rating and set a $7.30 price objective for the company in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Santos to a “hold” rating in a report on Sunday, October 12th. Finally, Royal Bank Of Canada cut shares of Santos from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.30.

Santos Price Performance

The firm’s 50-day moving average price is $4.19 and its 200-day moving average price is $4.58.

About Santos

Santos Limited (OTCMKTS:SSLZY) is an independent exploration and production company headquartered in Adelaide, Australia. Established in 1954, the firm focuses on the development, production and marketing of natural gas, liquefied natural gas (LNG), condensate and crude oil. Santos operates a diversified portfolio of upstream assets that span conventional and unconventional resources, with an emphasis on long-life reserves and high-value gas projects.

The company’s core activities encompass the exploration for hydrocarbon resources, project development and operational management of producing fields.