18/04/2024 09:05

Woodside Energy Group Ltd (WDS) $29.58

WDS fell -1.2% on Wednesday, taking its decline year-to-date to -4.2%, a poor performance considering the escalating tensions in the Middle East. We’ve monitored WDS for over 12-months, and our stance has been unwavering, i.e. the stock will look interesting ~$28. Unfortunately, now it's approaching our target area, for MM, it's still well behind both Paladin (PDNDA) and Whitehaven Coal (WHC) for our preferred energy exposure.

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12/03/2024 09:02

Woodside Energy Group (WDS) $29.44

We exited WDS in October above $35 but well under the high of 2023. Fortunately the move still looks good selling compared to today’s prices. However, the reason to reconsider WDS this morning is that we believe it's adding some clarity to the picture of the resources moving through 2024; they’ve endured a tough time year to date. For example, heavyweight BHP Group (BHP) is down 15% so far this year compared to Commonwealth Bank (CBA), which is up almost 6%.

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29/02/2024 09:11

Woodside Energy Group Ltd (WDS) $30.17

This week saw WDS deliver an inline result with a beat on the profit line, enabling a healthy $US60c fully franked dividend to be paid on the 7th of March. Its underlying profit for the FY of $3.32bn was down -37% YoY but well ahead of the $3.07bn consensus, with the beat driven by good cost control in the 2H, along with lower royalties and DD&A expenses.

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27/02/2024 16:52

Woodside Energy (WDS) $30.28

WDS +0.93% : Edged higher today after delivering an operationally inline result with a beat at the profit line enabling a good dividend to be paid. Underlying profit for the FY of $3.32bn was down -37% YoY but well ahead of $3.07bn consensus.

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13/02/2024 09:27

Woodside Energy Group (WDS) $31.17

WDS has struggled compared to its peers over recent months, not helped by the reduced pool of buyers due to ESG mandates impacting some fund managers. The stock will represent good value if we see a deeper pullback, with it already forecast to yield ~10% over the coming 12-month – the company reports later this month on the 27th.

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07/02/2024 16:39

Santos (STO) $7.41 /Woodside Energy (WDS) $32.46

STO -5.84% / WDS +0.53%: Stocks entered a trading halt this morning with the announcement that they’ve called off any potential merger talks because there was no clear value creation on offer. WDS was seen as the buyer, and STO the seller, so STO had been the big beneficiary in terms of relative share prices in recent months.

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24/01/2024 16:24

Woodside Energy (WDS) $30.97

WDS -0.39%: Always a complicated deck of numbers from Woodside with 4Q sales revenue up 3% qoq thanks to higher commodity prices however that was offset by lower traded LNG volumes and timing of condensate sales from its LNG operations.

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19/12/2023 09:19

Woodside Energy Group Ltd (WDS) $30.49

WDS has struggled over recent months, falling over 25%, while crude oil declined ~19%. There's no technical or fundamental reason at this stage to assume crude has bottomed; hence, we’re happy to adopt a wait-and-see approach into 2024.

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08/12/2023 09:20

Woodside Energy Group Ltd (WDS) $29.97

WDS has now corrected 26% from its 2023 high, leaving a bounce a strong possibility, similar to PLS et al. discussed earlier. We aren’t oil & gas bulls into 2024 and cannot see a huge “value add” by a merger with STO

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28/11/2023 09:09

Worley Ltd (WOR) v Woodside Energy (WDS)

The correlation between WOR and WDS has been very close post-COVID, apart from over recent months where WOR has proved a big winner; year-to-date, WOR is up +14.1% while WDS has fallen -10.4%. We are in no hurry to consider switching our WOR holding into WDS, but another 10% differential might create some temptation.

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