Fund Manager Summary
The fund managers believe the outlook for Woodside Energy Group Ltd presents a significant opportunity for investors. In their opinion, despite recent underperformance attributed to U.S. tariffs and fears of a global economic slowdown, the company is currently undervalued. They highlight the strategic importance of the Louisiana LNG facility, which is set to enhance Woodside's global LNG footprint with a planned capacity of up to 27.6 Mtpa. Additionally, the fund managers are optimistic about the company's strong growth profile, driven by new projects that are on budget, and anticipate a production increase of more than 30% over the next two years.
Source: Trading View
Commentary From The Managers
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Endeavor Asset Management
31 Oct 2025
$24.80
Summary
- Woodside (WDS) experienced an 8% increase in share price following the partial sell down of its Louisiana LNG asset.
- The transaction offers a small mark to market uplift on the asset.
- It introduces US-based gas transport and sourcing expertise into the partnership.
- The deal generates approximately $380 million that can be utilized to pay down debt.
- Endeavor Asset Management believes this partnership will derisk the asset and enhance execution.
- The involvement of Williams, a leading US midstream operator, is expected to improve operational efficiency.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Endeavor Asset Management
31 Oct 2025
$24.80
- Woodside (WDS) experienced an 8% increase in share price following the partial sell down of its Louisiana LNG asset.
- The transaction offers a small mark to market uplift on the asset.
- It introduces US-based gas transport and sourcing expertise into the partnership.
- The deal generates approximately $380 million that can be utilized to pay down debt.
- Endeavor Asset Management believes this partnership will derisk the asset and enhance execution.
- The involvement of Williams, a leading US midstream operator, is expected to improve operational efficiency.
Summary
Pendal Group
27 Oct 2025
$24.69
- Pendal Group acknowledges Woodside Energy’s (WDS, +10.4%) strong quarterly performance, particularly in LNG production.
- Production guidance for the full year has been increased, reflecting robust output from LNG facilities.
- Cost guidance has seen a marginal improvement due to enhanced production efficiency.
- The capex budget has been reduced, with some expenditures deferred from FY25 to FY26.
- Management announced a 10% sell-down of the Louisiana LNG project to Williams, a significant midstream player in North America.
- This transaction involves a sell-down of the pipeline as well, adding complexity to the deal.
- Estimated value realised from the transaction aligns with the original WDS entry valuation.
- Pendal Group notes that WDS aims to ultimately sell down 20-30% of the Louisiana LNG project.
Summary
Pendal Group
30 Sept 2025
$23.03
- Underweight Woodside Energy (WDS, -12.8%)
- OPEC+ commentary suggests increased supply, leading to a cautious market outlook for oil prices and the energy sector.
- Pendal Group continues to prefer Santos over Woodside within the energy space.
- Santos is at an inflection point with declining capex and increasing production from the Barossa field.
- This supports a favorable outlook for capital return.
Summary
Endeavor Asset Management
30 Sept 2025
$23.03
- Endeavor Asset Management has re-entered a position in Woodside Energy Group Ltd (WDS) after a recent pullback in share price.
- Oil prices have stabilized in the range of US$60–65 per barrel over the past few months.
- Global economic policies are evolving, with many economies shifting towards growth.
- As we approach the seasonally stronger northern hemisphere winter, there is a favourable risk-reward skew for the stock.
- Woodside is currently trading at a 13x P/E ratio.
- The estimated FY25e dividend yield is around 6.3% for calendar year 2025.
Summary
Tamim Funds Management
31 July 2025
$26.59
- Tamim Funds Management continues to hold Woodside Energy (WDS.AX) due to its resumed full operational control of Bass Strait gas assets.
- Woodside is a key player in Australia’s energy independence and global energy transition.
- The company is positioned to benefit from a pragmatic approach to energy, balancing emission reduction with energy security.
- Woodside provides exposure to LNG, which is essential in transitioning from coal to renewables, particularly in Asia.
- Strong free cash flow generation and disciplined capital allocation enhance Woodside's investment appeal.
- High-return project options in the Gulf of Mexico and Senegal support both income and growth potential.
- The Scarborough gas project exemplifies Woodside's capability in executing large-scale, long-life projects.
- Despite recent stock pressure from lower spot LNG pricing, Tamim Funds Management views these pressures as transient.
- In an era prioritizing energy diversification and reliability, Woodside presents a resilient, cash-generative business model.
- The company has strategic assets and optionality in both conventional and transitional energy markets.
Summary
Yarra Capital Management
31 July 2025
$26.59
- Woodside Energy (WDS, overweight) has shown strong performance following its quarterly update.
- Production increased by 3%, and revenue rose by 7%.
- The company has upgraded production guidance and achieved lower unit costs.
- Yarra Capital Management is attracted to Woodside's strong growth profile from new projects that are on budget.
- The company is scheduled to increase production by more than 30% over the next two years.
Summary
Clime Investment Management
30 June 2025
$23.63
- Clime Investment Management initiated a position in Woodside Energy Group Ltd in June.
- The investment is supported by Woodside's strong project pipeline.
- Woodside is favourably positioned as a global LNG leader amidst geopolitical tensions.
- Higher oil and LNG prices have enhanced cash flow visibility for the company.
- Near-term free cash flow is impacted by heavy investment, yet long-term value is anticipated.
- Key long-term developments include US LNG expansion, Scarborough, and Sangomar projects.
- Execution and commodity price risks are acknowledged by the fund manager.
- Clime Investment Management believes Woodside offers an attractive blend of scale, diversification, and embedded growth.
- This growth potential is not fully reflected in the current share price.
Summary
Montgomery Investment Management
12 May 2025
$20.80
- Woodside Energy Group Ltd is Australia’s largest independent oil and gas exploration and production company.
- Share price has declined 46% since September 2023, prompting a reassessment of the company’s transformation.
- Woodside is now a 3% position in The Montgomery Fund and a 2.3% position in The Montgomery [Private] Fund.
- Despite share price declines due to falling oil prices (from US$124/barrel to US$61/barrel), Woodside is expanding into new energy initiatives.
- The company describes itself as entering a new chapter as a global energy company following its merger with BHP Petroleum in 2022.
- Woodside is focusing on becoming a global LNG and infrastructure powerhouse.
- The Louisiana LNG project, a US$17.5 billion initiative, is central to this transformation, aiming for 16.5 Mtpa production capacity by the 2030s.
- This project is expected to deliver first gas in 2029, positioning Woodside as a leader in the global LNG market.
- Woodside has partnered with Stonepeak, selling a 40% stake in Louisiana LNG Infrastructure LLC for US$5.7 billion, allowing for optimized capital allocation.
- Further sell-downs of 20-30% in the project are being explored, indicating strong interest from potential partners.
- Woodside is diversifying into new energy initiatives, particularly hydrogen, through projects like H2Perth, H2TAS, and H2OK.
- Strategic partnerships, such as with BP, enhance operational capabilities and secure natural gas supply for the Louisiana LNG project.
- Woodside’s global operations now span multiple continents, aiming to meet rising energy demand while transitioning to a lower-carbon future.
- Analyst reports reflect sell-side enthusiasm despite share price declines, viewing partnerships as signals of industry confidence.
- Environmental concerns remain, with critics highlighting potential greenhouse gas emissions from the Louisiana LNG project.
- Woodside’s ability to balance profitability, innovation, and environmental responsibility will define its legacy in the energy sector.
Summary
Sterling Managed Investments
30 Apr 2025
$20.74
- Sterling Managed Investments notes that Woodside Energy detracted from performance in April due to a softer oil price and concerns around global growth.
- Despite this, Woodside had a solid operational quarter with production and revenue modestly beating expectations.
- Strong output from Sangomar and disciplined project delivery across key developments like Scarborough and Louisiana LNG were highlighted.
- Woodside continues to progress high-return, long-life projects, positioning itself well for a recovery in energy markets.
- Further long-term LNG demand growth is anticipated, despite near-term commodity price pressures.
- In response to recent weakness in oil markets, Sterling Managed Investments has decided to reduce its position in Woodside Energy (WDS).
- The ongoing trade war between the United States and China raises concerns about potential further declines in oil prices.
- Oil is a volatile commodity, with historical lows seen during recessions, prompting a cautious approach to exposure.
- With the odds of a US recession increasing from 20% to 50%, Sterling Managed Investments considers it prudent to reduce exposure to oil for the time being.
Summary
Tyndall Asset Management
30 Apr 2025
$20.74
- Tyndall Asset Management sold their investment in Woodside Energy (WDS) due to a decline in share price.
- The decline was aligned with falling oil futures.
- Global demand expectations were revised lower following tariff announcements.
- The exit from this position contributed positively to overall portfolio performance.
Summary
Yarra Capital Management
30 Apr 2025
$20.74
- Woodside Energy (WDS) is currently rated overweight by Yarra Capital Management.
- The company underperformed recently despite a solid operational quarter.
- This underperformance is attributed to the announcement of U.S. tariffs, raising fears of a global economic slowdown.
- Woodside has lagged behind rising Oil and LNG prices and is considered undervalued by Yarra Capital Management.
- The Louisiana LNG facility, with a planned capacity of up to 27.6 Mtpa, will enhance Woodside's global LNG footprint.
- Yarra Capital Management is attracted to the company's strong growth profile from new projects that remain on budget.
- Production is scheduled to increase by more than 30% over the next two years.
Summary
BKI Investment Company
31 Mar 2025
$23.12
- Woodside Energy Group Ltd (WDS) has diversified its global portfolio through its merger with BHP's petroleum business, now covering assets in Australia, the Gulf of Mexico, the Caribbean, Senegal, and Timor.
- WDS is committed to future growth, demonstrated by a substantial exploration program and successful project deliveries.
- The Sangomar oil development in Senegal achieved first oil production in June 2024, with a $5 billion development cost, reaching nameplate capacity in nine weeks and generating $950 million in revenue.
- Other major projects include the $12.5 billion Scarborough LNG project, currently 80% complete and on track for 2026 delivery, and the $7.2 billion Trion development, expected to produce in 2028.
- Strategic selldowns in the Scarborough project have enhanced the balance sheet, generating $2.3 billion in cash proceeds and securing long-term LNG sales agreements for over 15Mt.
- WDS has expanded its LNG presence via an acquisition in Louisiana LNG and is entering the lower-carbon ammonia market with an investment in Beaumont New Ammonia, targeting 2025 production.
- These generational projects, requiring substantial capital, are expected to yield significant long-term returns, bolstering WDS's attractive dividend yield.
- Given the cash generated from current and future assets, BKI Investment Company has been comfortable adding to the WDS position over the past couple of years.
Summary
BKI Investment Company
30 Sept 2024
$25.20
- BKI Investment Company notes that WDS produced a solid but complex result.
- Operating Revenues were 19% lower than the previous corresponding period (pcp).
- The result was complicated by the sell-down of the Scarborough Joint Venture during the period, which is viewed as a positive development.
- WDS declared a fully franked interim dividend of US$0.69 (AUD$1.045) per share.
- The dividend was at the top end of the payout range and represented an annualised dividend yield of 7.3%.
Summary
Yarra Capital Management
30 Sept 2024
$25.20
- Woodside Energy Group Ltd (WDS) – currently rated overweight by Yarra Capital Management.
- Recent underperformance attributed to a 10.1% decline in Brent Crude Oil prices, closing at US$71.7/bbl.
- Concerns raised regarding the sustainability of the 80% dividend payout ratio, particularly due to the planned acquisition of Tellurian Energy (TELL.US).
- Yarra Capital Management remains attracted by the strong growth profile, with new projects on budget and schedule.
- Expectations of production growth exceeding 30% over the next two years, contributing to double-digit free cash flow yields.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"Despite a solid operational quarter, fears of global economic slowdown appear to overshadow Woodside Energy's potential. With significant production growth on the horizon, the current undervaluation may present a compelling opportunity for savvy investors willing to look beyond short-term noise."
Last Updated: 31 Oct 2025
Query The Data
Frequently Asked Questions
Who is investing in Woodside Energy Group Ltd (ASX:WDS)?
Fund managers including Yarra Capital Management, Montgomery Investment Management, Clime Investment Management, Sterling Managed Investments, BKI Investment Company, Tyndall Asset Management, Tamim Funds Management, Pendal Group and Endeavor Asset Management have invested in Woodside Energy Group Ltd (ASX:WDS).
Why do fund managers invest in Woodside Energy Group Ltd?
Fund managers invest in Woodside Energy Group Ltd due to its solid operational performance and significant growth potential. Despite recent underperformance linked to global economic concerns and U.S. tariffs, the company is viewed as undervalued. The expansion of the Louisiana LNG facility will enhance its global footprint, and planned production increases exceeding 30% over the next two years further attract investment interest.
What happened to Woodside Energy Group Ltd (ASX:WDS)?
Fund managers are investing in Woodside Energy Group Ltd due to its strong growth potential, robust cash flow generation, and strategic positioning in the energy transition. Recent operational control of Bass Strait gas assets and successful project execution, such as the Scarborough gas project, enhance its appeal. Despite some market pressures from fluctuating LNG prices, Woodside's diversified energy portfolio and disciplined capital allocation support its resilience. The company is expected to increase production significantly over the next two years, making it an attractive option for income and growth in a shifting energy landscape.