Australia-based Woodside Energy Group (AU:WDS) carries an attractive dividend yield of 7.46%, presenting a strong income opportunity for investors. The dividend yield also surpasses the sector average of 3.7%. Additionally, WDS stock is viewed as a long-term value pick due to its potential for share price growth. On TipRanks, WDS is rated as a Moderate Buy with an estimated upside of 33%.
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Woodside Energy is a global oil and gas exploration company with projects in Australia, Mexico, and Trinidad and Tobago. Year-to-date, WDS stock is down 23%, mainly due to the volatility in global energy prices.
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What Is the Dividend Policy for Woodside?
Woodside’s dividend policy is designed to distribute at least 50% of its net profit after tax (NPAT), excluding one-off items, with a target payout range of 50% to 80%.
In its half-yearly results for 2024, the company declared a fully franked interim dividend of $0.69 per share. The interim dividend totals $1.31 billion, equating to roughly 80% of the underlying NPAT for H1 2024. However, it was 14% lower than the interim dividend in H1 2023. Meanwhile, underlying NPAT also fell 14% year-over-year to $1.63 billion in the first half.
Woodside Raises Full-Year Guidance
For the full year, Woodside raised its production outlook to the range of 189 to 195 MMboe (million barrels of oil equivalent), up from 185 to 195 MMboe.
Last month, the company released its Q3 production report, stating a record quarterly production of 53.1 MMboe. This marked a 20% increase from Q2 2024, driven by the Sangomar field in Senegal, West Africa.
Is Woodside Energy a Good Stock to Buy?
WDS stock has a Moderate Buy consensus rating on TipRanks, backed by six Buys, five Holds, and one Sell recommendation. The Woodside share price forecast is AU$32.34, implying a change of 33% from the current price level.
