Barrenjoey energy analyst Dale Koenders says shareholders should take a short-term view on oil and gas sector.
Uncertainty facing Australian energy stocks from global recession fears, geopolitics, the energy transition and government intervention mean that investors need to take a short-term view on the sector, and be prepared to change tack as the situation evolves, says Barrenjoey energy and utilities analyst Dale Koenders.
“The uncertainty is the worst that I’ve seen in 15 years of following the markets,” he said ahead of a reporting season where those factors will be in focus.“Investors really have to look for stocks that can create value in the short term, rather than being happy to sit in a stock for the next three years.”
The reduced forecasts slashed Barrenjoey’s earnings estimates for ASX-listed energy producers by between 3 per cent and 24 per cent, with those most exposed to spot LNG, including Woodside Energy, Santos, and Beach Energy the most impacted.Santos projects such as Barossa in the Timor Sea“It just seems to be in a spiral of negative news,” he said of Santos, pointing also to delays in finalising a $US1.
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