When it comes to investing in ASX shares, even the experts can get a bit confused.
For example, this week Argonaut associate dealer Harrison Massey was full of praise for Woodside Energy Group Ltd (ASX: WDS).
"In our view, Woodside Energy offers the best exposure to oil and gas on the ASX," Massey told The Bull.
However, he did not recommend the stock as a buy. Massey labelled it a hold.
So what's going on here? Does Woodside deserve a place in your portfolio or not?
Woodside is 'gaining strength'
The Woodside share price is 2% down so far in 2023, but has risen an impressive 12% since a 20 March trough.
Earlier this month, The Motley Fool reported that Citi analysts upgraded Woodside shares from sell to neutral.
Even more upbeat is Shaw and Partners portfolio manager James Gerrish, who likes the energy producer "into recession fear-induced weakness".
He this week noted how it's back up to "within 13% of its post-COVID high".
"The stock's gaining strength even as crude rotates between US$70 and US$80, around 45% below its 2022 high," Gerrish said in Market Matters.
"A good sign for the bulls in our opinion. Although from a spread perspective, higher oil prices look needed to take Woodside back towards $40."
Long-term outlook for Woodside shares
The dividend yield stands at a massive 10.8% for Woodside investors.
For Gerrish, the momentum for the stock price is now upwards.
"We have been looking for crude to test under US$70/barrel to provide another entry opportunity into Woodside but we may now have already seen the stock low for 2023," he said.
"An excellent performance when we consider the stock paid a US$1.44 fully franked dividend in March."
In the longer run, The Motley Fool's Bronwyn Allen noted Woodside doesn't just have all its eggs in the gas and oil basket.
"It's developing its own green energy projects and reducing its carbon emissions," she said.
"Woodside intends to invest $5 billion in new energy products and lower-carbon services by 2030. These include hydrogen and ammonia projects, and carbon capture, utilisation, and storage."
According to CMC Markets, nine out of 20 analysts currently rate Woodside shares as a buy. Eight consider it a hold.
