06/12/2024 09:12

Woodside Energy Corp (WDS) $24.59

In 2022, BHP sold its 38 million WDS shares for $1.1bn; the stock was left over from the WDS-BHP merger for investors outside of Australia who were ineligible to own.  Today, buyers are down around 18% on the purchases before dividends as the oil price weighs on WDS and the energy sector.

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28/11/2024 09:57

Woodside Energy Group Ltd (WDS) $24.37

WDS continues to languish down over 21% year-to-date, with many investors trying to pick the bottom. There have been no real surprises from WDS operationally in 2024; the metrics are solid, but as oil and gas prices struggle, it's tough for the producer to gain traction.

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29/10/2024 09:29

Woodside Energy Group Ltd (WDS) $24.28

Market heavyweight WDS has declined almost 22% year-to-date, but yesterday’s begrudging 1c retreat suggests some buying has resurfaced into the current weakness.

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20/09/2024 09:15

Woodside Energy Group Ltd (WDS) $24.60

WDS is down over 20% year-to-date as it cuts through support levels like a knife through butter. Over the last year, “when to buy” this $46bn ASX oil & gas giant has been a common question from subscribers, but for all intents and purposes, it comes down to a bet on commodity prices after a recent solid report that contained no hidden surprises. Interestingly, US institutional holdings in Woodside have fallen from 23% of WDS’ register in Jan’23 to 17% in Sept’24; the likelihood is that most of this selling is finished, which should help WDS's relative performance.

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06/09/2024 09:23

Woodside Energy Group Ltd (WDS) $25.00

Woodside Energy (WDS) reported well relative to expectations in August, which saw a corresponding beat to the interim dividend, with its 80% payout retained.

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27/08/2024 17:31

Woodside Energy (WDS) $27.42

WDS +3.94%: A better than feared 1H24 result today, while the interim dividend was also a beat.

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24/07/2024 09:21

Woodside Energy Group Ltd (WDS) $27.53

WDS has announced the acquisition of troubled LNG developer Tellurian for $US900mn as it increases its exposure to LNG. WDS fell over 2% on the news, its largest one-day drop since May, while Tellurian (TELL US) shares soared 65% in the US. They also announced sales revenue of $3.03bn, down 1.7% year on year.

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04/07/2024 09:24

Woodside Energy Group Ltd (WDS) $29.06

WDS slipped -0.2% on Wednesday, even when the local Energy Sector gained +0.6%. Over recent months, as WDS traded below $28, we have said, “WDS is looking for a low.” On balance, we believe that WDS has now completed its 12-month 30% correction, but it's not our preferred energy play from a growth perspective

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18/06/2024 09:21

Woodside Energy Group Ltd (WDS) $26.98

WDS fell another 2.3% on Monday, extending its drop year-to-date to 13.1%. As we've discussed recently, MM believes oil is “looking for a low.” After stalking WDS through 2024, we believe value is starting to present itself, although we are conscious that international giants such as Exxon (XOM US) and Chevron Coro (CVX US) look to be in the early stages of their respective pullbacks. Last week, Macquarie upgraded WDS to outperform with a $32 price target, believing the stock was cheap compared to its US peers and the market is excessively pricing in commodity and climate risks.

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28/05/2024 09:14

Woodside Energy (WDS) $27.71

Over the last 12-18 months, MM has avoided WDS, calling it down to ~$28. Through 2024, we’ve remained comfortably on the sidelines, even as the stock tests lower. We believe it's too early to fight the disappointing downside momentum in WDS while global oil stocks remain strong.

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