Woodside Energy Group Ltd

WDS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$22.00	Gnvpl	Qfsvsfqqq

Woodside: Uplift to Our Near-Term Earnings Forecast on Line-Item Guidance

Mark Taylor

Aug 15, 2024

We increase our 2024 earnings per share and dividends per share forecasts for no-moat Woodside by 7% each to AUD 2.38 and AUD 1.90, respectively, after the Australian hydrocarbon producer provided first-half fiscal 2024 line-item guidance. We have moved to the midpoint of the guidance ranges provided. Our 2024 dividend forecast equates to an attractive 7.5% fully franked yield at the current share price, based on an overall payout of 80%. Our midcycle and AUD 45 fair value estimates are unchanged.

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