Has Woodside Energy (WDS) turned the corner?
Woodside lifted quarterly production to 50.8 million barrels and nudged its full-year output guidance higher on Wednesday which helped push the stock up +3.5% on the day, its biggest intra-day jump in 3-months. The oil and gas producer simultaneously lowered capital expenditure guidance, a clear signal of improved operating efficiency and execution across its major projects.
- The combination of operational upgrades and cost discipline reinforced confidence into FY26, as major projects like Scarborough near completion.
On Thursday the energy giant tracked the crude price higher on Thursday after the Trump administration unveiled more sanctions on Russia’s biggest oil producers as it ramps up pressure on President Putin to negotiate an end to hostilities in Ukraine – suddenly the stocks rallied ~10% from Mondays low. Looking further ahead, structural pressure remains amid global electrification trends but its gaining upside momentum.
- We like WDS for a short-term push towards $28-30.
