The Woodside Energy Group Ltd (ASX: WDS) share price is $29.96, down 1%, despite oil and gas prices continuing to climb today.
The largest ASX 200 oil share remains 5.6% up on its Friday close after the US and Israel attacked Iran over the weekend.
The attack pushed oil prices significantly higher on expectations that global supply will be disrupted as a result of the attack.
The Woodside share price has been on a consistent upward trajectory in the new year and is currently up 27% year to date.
Woodside shares reached an 18-month high of $28.37 on Friday, then soared 6.4% yesterday due to the weekend's events.
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FY25 results
The latest major news out of the oil and gas giant was its full-year FY25 results last Tuesday.
Woodside reported record production of 198.8 MMboe in FY25, up 3% from FY24.
The net profit after tax (NPAT) was US$2,718 million, down 24%.
Woodside declared a fully-franked final dividend of 59 US cents per share, up 11% on US dollar terms on the final FY24 dividend.
After the currency conversion, this will equate to about 83.4 AU cents per share, payable on 27 March.
Woodside shares go ex-dividend, along with scores of other ASX shares, this week.
Will the Woodside share price go further from here?
As is customary, the brokers have gone over Woodside's latest earnings results and adjusted their ratings and 12-month price targets.
The highest target among the nine broker opinions we've seen comes from Michael Gable at Fairmont Equities.
On The Bull, Gable gave Woodside shares a buy rating and said the stock could go as high as $38 in CY26.
Gable commented:
Expected increasing demand for oil and gas in 2026 leaves me bullish about the energy sector.
The company posted record annual production of 198.8 million barrels of oil equivalent in full year 2025, exceeding the guidance range.
Record production offset lower realised prices.
The company's full year results met expectations, and the share price recently moved above a major resistance level.
I expect the shares to trend higher and re-test previous peaks around $38 as calendar year 2026 unfolds.
The next best price tip comes from RBC Capital.
RBC retained its buy rating on Woodside with a 12-month share price target of $31.50.
Morgans retained its buy rating and raised its price target from $29.80 to $30.50.
In a note, the broker said:
A strong CY25 result, coming in ahead of consensus on both NPAT and dividend.
Yet another half where WDS outperforms on opex and net debt balance.
We see a clear case for value upside remaining in WDS, from a recovering oil price, solid project delivery and FCF harvest as projects come on (CY27-29).
Not every expert says buy
Bernstein increased its share price target on Woodside from $24 to $29 and reiterated its hold rating.
Citi, Macquarie, and Morgan Stanley kept their hold ratings with 12-month targets of $28, $27, and $26, respectively.
UBS also maintained a hold rating on Woodside but upped its share price target from $23.10 to $25.60.
Ord Minnett retains a sell rating on Woodside shares with a price target of $24.
