STX – Macquarie rates the stock as Outperform

Reserves and resources at West Erregulla have been certified at 300PJ of 2P and the ultimate resource potential now appears in the 700-900PJ range, which Macquarie notes is -28-44% below management’s prior guidance

The broker is disappointed in the assessment which now implies a significantly lower volume compared with the assessment back in 2019.

Yet the sell-off in the stock of more than -20% accounts for the reduction and Macquarie sticks with an Outperform rating. Target is reduced to $0.50 from $0.60.

Sector: Energy.


Target price is $0.50.Current Price is $0.20. Difference: $0.30 – (brackets indicate current price is over target). If STX meets the Macquarie target it will return approximately 60% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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