Buy, hold, sell: Santos, BHP, Telstra shares

S&P/ASX 200 Index (ASX: XJO) shares rose 1% last week and are down 2.5% over 12 months.

Here's what Michael Gable from Fairmont Equities thinks of these 3 ASX 200 shares (courtesy The Bull). 

Santos Ltd (ASX: STO)

The Santos share price rose 3.88% to close at $9.11 last week.

Gable has a buy rating on this ASX 200 energy share. 

He said: 

Santos is a global energy company. We've been bullish on the outlook for oil and gas since 2025 due to a looming imbalance between supply and demand.

Investors have been underweight in the energy sector, but buying support is emerging for major oil and gas companies like Santos.

The shares have risen from $6.15 on January 2 to trade at $9.14 on October 15.

A major technical breakout in Santos shares was achieved this month, which is a positive sign and indicates potentially higher prices moving forward.

BHP Group Ltd (ASX: BHP)

The BHP share price fell 1.49% to finish at $60.03 last Friday.

Gable has a hold rating on this ASX 200 mining share. 

He commented: 

BHP is one of the world's biggest miners and most of its earnings is now generated from copper.

In our view, we remain in the early stages of a commodities boom. The copper price continues to trend higher due to supply constraints and increasing demand.

The company posted an attributable profit of $US9.8 billion in full year 2026, up 9 per cent on the prior corresponding period.

It was recently trading on a fully franked dividend yield of almost 4 per cent, which is attractive for Australian shareholders in light of the Federal Government's changes to capital gains tax rules.

Telstra Group Ltd (ASX: TLS)

The Telstra share price edged 0.63% lower to $4.74 last week.

Gable has a sell rating on this ASX 200 telco share. 

Gable explained: 

Stock in this telecommunications giant enjoyed a good run in the two years up to May 2026, but has fallen back and formed a negative reversal signal on the share price chart.

In an environment of higher interest rates, Telstra's dividend loses appeal when compared to cash in the bank.

Telstra shares have fallen from $5.55 on May 19 to trade at $4.785 on October 15.

In our view, low growth prospects and possibly increasing competition from SpaceX's Starlink leaves the share price under pressure.

The post Buy, hold, sell: Santos, BHP, Telstra shares appeared first on The Motley Fool Australia.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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