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Woodside Energy Group Ltd

55.00 (3.05%)
Share Name Share Symbol Market Type Share ISIN Share Description
Woodside Energy Group Ltd LSE:WDS London Ordinary Share AU0000224040 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  55.00 3.05% 1,858.00 83,961 16:35:09
Bid Price Offer Price High Price Low Price Open Price
1,855.00 1,857.00 1,861.00 1,817.00 1,817.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Crude Petroleum & Natural Gs 16,817.00 6,498.00 342.20 542.96 35,278.78
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:49 O 210 1,856.7119 GBX

Woodside Energy (WDS) Latest News (1)

Woodside Energy (WDS) Discussions and Chat

Woodside Energy Forums and Chat

Date Time Title Posts
23/4/202311:26Woodside Energy - Charts & News57
10/6/202209:32Woodside Energy29
07/6/202214:31Woodside Energy2

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Woodside Energy (WDS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-02 16:06:501,856.712103,899.09O
2023-06-02 16:06:391,856.342103,898.32O
2023-06-02 16:04:161,857.995189,624.37O
2023-06-02 15:54:431,848.521773,271.88O
2023-06-02 15:35:091,858.0020,131374,033.98UT

Woodside Energy (WDS) Top Chat Posts

Top Posts
Posted at 16/3/2023 20:23 by kiwi2007
LNG spot price in Asia has been trending lower since mid-December and ended at $13.50 mmBtu in the week to March 10.

This is down 64% from the northern winter peak of $38 per mmBtu reached in the week to Dec. 16, and also 81% below the record high of $70.50, hit in late August.

Posted at 27/2/2023 21:43 by kiwi2007

Record 2022 Dividend and No-Moat Woodside Is Well-Positioned for Growth Expenditure

We keep our AUD 44.50 fair value estimate for no-moat Woodside. The global top 10 independent hydrocarbon producer reported a 220% increase in underlying 2022 net profit after tax to USD 5.2 billion, slightly ahead of our USD 5.1 billion expectation. It declared a 37% increase in final dividend to USD 1.44, ahead of our USD 1.37 expectation, on a 73% payout. It brings the full year to a record fully franked USD 2.46 (AUD 3.75) on a 74% payout, for a hefty 10.8% yield at the current share price.

We slightly rein in our 2023 EPS and DPS forecasts, by about 4% to AUD 2.42 and AUD 1.94, respectively. Softening Japan Korea Marker, or JKM, (spot Asia LNG) futures are the key detractor. Woodside says it will sell 20%-25% of equity LNG volumes on hub indexes such as JKM in 2023, close to 2022's 23% actual. JKM futures have softened in recent months to back below USD 20 per mmBtu, including an average of USD 16 per mmBtu for the balance of 2023. LNG comprises just over half of Woodside's sales revenue. Hub price volatility associated with Russia's invasion of Ukraine has led to a rollercoaster for earnings and dividends, and may continue to do so.

Our AUD 1.94 2023 DPS forecast equates to a fully franked yield of 5.3%, back from rarefied 2022 levels, but healthy nonetheless. We assume an 80% payout ratio, at the high end of Woodside's 50%-80% target range. There is the possibility the ordinary payout could be reduced in preference for specials and/or share buybacks, acquisitions notwithstanding.

Woodside hasn't changed 2023 production guidance of 180-190 mmboe, a 20% increase on 2022 including a full period's contribution from the merged BHP Petroleum assets. We sit at a high-end 190 mmboe. Exploration and development expenditure guidance is for USD 6.3 billion-USD 6.9 billion, more than double 2022 levels and around half of which is for Scarborough and Pluto Train 2 (now 25% complete and on track for first production in 2025). We sit at the midpoint of USD 6.6 billion.

2023 Dividend forecast down dramatically from the August forecast.

Posted at 27/2/2023 13:33 by nk104

Dividend announcement:

As announced as part of its full year results published today, the Directors of Woodside Energy Group Ltd ("Woodside" or the "Company") have determined a final dividend of US 144 cents per share, bringing the full-year fully franked dividend to US 253 cents per share.

The dividend is expected to be paid on 5 April 2023 to shareholders on the register at 5.00pm AWST on 9 March 2023.

Woodside dividends are determined and declared in US dollars. However, shareholders will receive their dividend in Australian dollars unless their registered address is in the United Kingdom (in which case they will receive their dividend in British pounds), in the United States of America (in which case they will receive their dividend in US dollars) or in New Zealand (in which case they will receive their dividend in NZ dollars).

Now unless my maths has gone completely to pot, a 144 U.S. cents dividend at an approximate rate of £1:$1.2 means approximately 120p per share!

Posted at 27/2/2023 13:31 by nk104
Results are out:

Financial headlines

· NPAT of $6,498 million, up 228%
· Underlying NPAT of $5,230 million, up 223%
· Operating revenue of $16,817 million, up 142%
· Operating cash flow of $8,811 million, up 132%
· Free cash flow of $6,546 million
· Annual sales volume 168.9 MMboe
· Realised price of $98.4 per boe
· Unit production cost of $8.1 per boe
· Cash on hand of $6,189 million
· Liquidity at year-end of $10,239 million
· Net debt at year-end of $571 million and gearing of 1.6%
· Determined a fully-franked final dividend of US 144 cps, bringing the full-year dividend to US 253 cps

Posted at 26/1/2023 00:48 by kiwi2007
Higher-Than-Expected Fourth-Quarter Hub Sales Support Revenue; No Change to AUD 43 FVE

We maintain our AUD 43.00 fair value estimate for no-moat Woodside. The global top 10 independent hydrocarbon producer reported a 7% increase in fourth-quarter 2022 production to a record 51.6 million barrels of oil equivalent, or mmboe. This was ahead of our 49.3 mmboe expectations and translates to record full-year output of 157.7 mmboe, coming in ahead of 153 mmboe-157 mmboe guidance. Exceptional plant reliability and favourable operating conditions featured. But we read no long-term implication from the outperformance. Woodside has maintained 2023 production guidance at 180 mmboe-190 mmboe, and we hold to the high end.

Fourth-quarter revenue fell 12% to USD 5.2 billion due to lower realised pricing. But this too was well ahead of our USD 4.7 billion expectations, with Woodside selling a higher-than-anticipated 29% of final quarter LNG volumes into gas hub indexes. The fourth-quarter JKM price came in at USD 38.60 per million Btu, or mmBtu, well ahead of the implied benchmark lagged contract LNG price of USD 13.65 per mmBtu. Overall price achievement came in at USD 98 per boe, down slightly on the third quarter's USD 102 per boe.

Despite fourth-quarter production and pricing beating our expectations, our 2022 EPS forecast is marginally lower at AUD 4.93. Higher-than-expected final period exploration write-downs are the driver. Woodside expensed USD 242 million in the fourth quarter, up 30% from the third quarter and against just USD 37 million for the entire first half.

Earnings are expected to be considerably softer in 2023, with hub gas prices including JKM materially lower than 2022. We use futures curves for near-term forecasts, with our midcycle forecast of USD 8.50 per mmBtu kicking in from mid-2024. JKM LNG futures for 2023 have declined around 40% to an annual average USD 20.75 per mmBtu versus USD 35.30 per mmBtu at time of last writing. This results in our 2023 EPS forecast being lowered 18% to AUD 3.58 and DPS down commensurately to AUD 2.86.

ASX closed today (Thursday).


Posted at 25/1/2023 15:26 by nk104
Fourth quarter report out

Posted at 11/10/2022 04:47 by kiwi2007
From MorningStar..

Market Underestimates Earnings Resilience Coming via Growth Projects and Domestic Gas Stability.

ecommendation impact (last updated: 10/10/2022)

Event analysis
Market Underestimates Earnings Resilience Coming via Growth Projects and Domestic Gas Stability.

Woodside, Santos, and Beach Energy have all benefited from rising oil and gas prices. However, despite share price appreciation, we think value still exists. And if energy prices remain elevated for longer than expected, value may be even greater. That's possible given the energy crisis in Europe. Of the three Australia-based oil and gas producers we cover, Woodside has the greatest exposure to global prices and has benefited the most from international events. For Woodside, only about 20% of production is attributable to domestic gas, where prices are steadier. Beach by contrast has about 60% of production serving the domestic gas market, while Santos sits between those two at about 40%. Domestic gas has a number of positives, with capital intensity lower than for export gas, and pricing under term contracts with consumer price index escalators. But lower margins and shorter field lives mean Beach is potentially more exposed to operating and capital cost inflation with less of the commensurate export pricing upside that Santos and especially Woodside enjoy.

Santos trades at a near-40% discount to our fair value estimate, the market underpricing for Barossa gas and new oil project growth. Realised prices are below those for Woodside, but margins are comparable. Santos has longer field life and stronger production growth than peers and a still comfortable balance sheet. Returns were spoiled by cost overruns last decade. But new investments under the watch of CEO Kevin Gallagher have generated attractive returns.

Woodside shares trade at a circa 25% discount to our fair value estimate, insufficient credit being given for Scarborough/Pluto T2. Strong realised prices reflect a favourable product mix and comparatively higher spot exposure. Returns on invested capital are tempered by liquid natural gas capital expenditures, including for Scarborough/Pluto T2. But returns should improve upon T2's start up in 2026.

DPS 22 - A$383.3 EPS 528
DPS 23 - A$271.8 EPS 464
Source: Aspect Huntley analyst estimates.

Posted at 31/8/2022 01:43 by kiwi2007
Recommendation impact (last updated: 30/08/2022) MorningStar

Event analysis
Woodside's First-Half 2022 Shines With Better Still to Come

We make no change to our AUD 43.00 fair value estimate for no-moat Woodside. The global top-10 independent hydrocarbon producer reported a better-than-expected 414% increase in underlying first-half 2022 net profit after tax to USD 1.82 billion, 13% ahead our USD 1.62 billion forecast. Woodside also paid its largest interim dividend since 2014, up 271% to AUD 1.52 per share, a shade below our AUD 1.54 forecast, equivalent to a healthy annualised 8.5% fully franked yield at the current share price.

However, we read no implication for our midcycle estimates. Profit outperformance against our expectation reflects a lower-than-expected interest rate and lower net debt balances on which that rate was calculated. Lower net debt levels reflect strong cash conversion, cash balances transferred from BHP Petroleum, and net asset sale proceeds. The interest rate was 1% versus 2.8% in the PCP, while Woodside received a completion payment of USD 1.08 billion for the BHP Petroleum merger and an additional capital contribution from Global Infrastructure Partners for Pluto Train 2.

Despite this, our 2022 EPS forecast drops slightly by 5% to AUD 5.33 after we increase operating cost expectations given inflationary conditions in the industry currently. Woodside guided for 2022 production of 145-153 mmboe and we're at the extreme upper bound, confident all stops will be pulled out to maximise production for a ravenous market. Our 2023 EPS forecast rises 9% to AUD 5.42 given rises in Brent crude and Japan Korea Marker LNG futures since our last research report. The JKM recently hit an eye-watering USD 70/million Btu, a far cry from sub-USD 2.00/mmBtu lows during 2020's pandemic nadir.

Our 2022 DPS forecast decreases 4% to AUD 4.00, but our 2023 forecast increases 9% to AUD 4.33, mirroring EPS moves. These equate to fully franked yields of 11.2% and 12.1% respectively at the current share price. But much will depend on the trajectory of energy prices, which will likely be volatile.

Posted at 01/8/2022 05:08 by kiwi2007
Is the Woodside share price a buy for its 13% dividend yield?

*Dividend expectations

The broker Ord Minnett thinks that at the current Woodside share price, it’s going to pay a grossed-up dividend yield of 13.6% in FY22 and then 8.6% in FY23.

Macquarie believes that Woodside could provide a grossed-up dividend yield of 15.3% in FY22 and 8.1% in FY23.

One of the biggest estimates of all comes from Morgan Stanley – it’s predicting that Woodside will pay a grossed-up dividend yield of 18% in FY22 and 16.4% in FY22.

By most accounts, those yields are big.


*These estimates assume they'll be fully franked and franking is only of value to tax payers in Aus and NZ I believe. Maybe UK and US holders get some other benefit frpm the franlking?
Anyway, to get the actually cash dividend divide by 100 and multiply by 70 for fully franked shares on the ASX or NZX..

Posted at 03/6/2022 04:08 by garycook
NK104,The cost of your BHP shares by my calulations are around 330p a share less than I will get 204 WDS shares x 1830p = £3,733 divided by 1,131 BHP shares = 330p.The WDS AU share price close today at 31.80 adjusted currency price GBP/AUD 1.733 equates to 1835p. WDS Dividend currently 135 US cents.So the GBP dividend around 107p.So yield atm 5.85% .WDS were up 5.2% yesterday in Oz.Also WDS started trading in the US last night closed at 23.15.GBP/USD 1.25785 equates to 1840p.I saw someone on the BHP thread quoting 1559p a share.I think this could be wrong by the AU and US currency conversions.Hope this helps.
Woodside Energy share price data is direct from the London Stock Exchange
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