This report is an updated version of the report published on 5 March 2026 at 3:45 PM AEDT.

Woodside Energy Group Limited (ASX: WDS)

Company Overview:  Woodside Energy Group Limited (ASX: WDS) is an Australia-based energy company with global energy assets. It is engaged in the exploration, evaluation, development, production, and sale of liquified natural gas, pipeline gas, crude oil, condensate, and natural gas liquids in and outside Australia.

Recommendation Rationale – SELL at AUD 30.490

• Technical Standpoint: WDS’ share price has surpassed the R2 level recommended on 22 October 2025. The 14-day RSI currently stands at approximately 76.75, confirming the overbought zone. This upward move raises the risk of short-term consolidation or downside retracement.
• Decline in Net Profit: In FY25, NPAT fell 24% YoY to US$2.7B from US$3.6B in FY24. Despite record production, earnings contracted — indicating operational leverage to lower commodity prices and margin pressure.
• Lower Realised Commodity Prices: Average realised price declined 5% YoY to US$60.2/boe in FY25. If oil prices remain volatile, earnings may remain under pressure.
• Dividend Cut Despite Record Production: Full-year dividend fell to 112 cps vs 122 cps in FY24 (−8%). Lower dividend signals weak earnings visibility and rising capex pressure.

Daily Price Chart

Daily Technical Chart, Data Source: REFINITV

Valuation Methodology: Price/Cash Flow Multiple Approach (FY Dec'26E) (Illustrative)

The stock might trade at a slight premium to peers given the ~4.7 Mtpa LNG contracts in 2025 alone, high EBITDA margin compared to oil & gas companies, and multiple growth projects. For conducting the valuation, following peers  have been considered - Santos Ltd (ASX: STO), Karoon Energy Ltd (ASX: KAR), and Ampol Ltd (ASX: ALD).

Given the stock has surpassed its R2 level, recent rally in the share price, and risks associated, it is prudent to sell the stock at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current market price of AUD 30.49, as of 5 March 2026, at 3:24 PM AEDT.

Woodside Energy Group Limited (ASX: WDS) is a part of Global Fully Charged Portfolio.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 5 March 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 5: Dividend Yield may vary as per the stock price movement. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.