WDS has enjoyed a solid recovery from its March low, when it traded ex-dividend $US1.44 fully franked, but unlike its overseas peers it remains below its 2022 high with its cause not helped by recent policy intervention pushing some Japanese companies to seek more diversified supply from the Middle East i.e. Japan was the largest global buyer of Aust LNG. Woodside Energy’s (WDS) June quarter result was broadly in line with consensus and we still forecast a high dividend yield over the coming years with the share price likely to be dictated by the oil price into Christmas, and beyond.
- We have been targeting the $40 area for WDS over recent months, and this remains in play – we hold WDS in our Flagship Growth Portfolio.
MM remains long and cautiously bullish on WDS
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