Woodside Energy Group Ltd (ASX: WDS) shares closed 0.98% lower on Thursday, at $30.45 a piece. The slide comes off the back of an incredible share price rally this year.
The energy shares closed out January trading for $25.37. When the closing bell sounded on 27 February, shares were changing hands for $28.31 apiece, up 11.6% for the month. And they climbed another 7.56% in the first week of March.
On Wednesday this week the share price hit a two-year high of $30.75.
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So, if I bought $10,000 worth of Woodside shares when the market first opened in 2026, what are they worth now?
For the year to date, Woodside shares have rocketed 28.7%, and for the year, they are up 32.51%.
Yesterday's share price increase means that $10,000 invested in the energy giant's stock when the ASX first opened for the year on the 2nd of January is now worth $12,870.
Meanwhile, $10,000 invested in Woodside shares this time last year would be worth even more, totalling $13,251 at the time of writing.
What has caused the price rally of Woodside shares?
Rising oil prices have acted as a strong tailwind for Woodside shares.
At the time of writing, crude oil prices rocketed more than 8% to above US$80 per barrel, their highest level since July 2024 as the escalating war with Iran disrupted global fuel supplies.
Trading Economics adds China's government has ordered its major refiners to halt exports of diesel and gasoline, which has added more strain onto the market.
For context, in late February, crude oil prices were trading around US$67 to US$70 per barrel.
Meanwhile, the oil and gas giant reported its 2025 results early last week, and investors were thrilled with the outcome.
The company confirmed all-time high full-year production of 198.8 million barrels of oil equivalent (MMboe), topping guidance. Its costs fell 4% for the calendar year, and while revenue dropped 1%, its EBITDA was in line with 2024.
On the bottom line, Woodside's net profit after tax (NPAT) of $2.72 billion was down 24% from 2024, while underlying NPAT of $2.65 billion declined by 8%.
Management also declared a final fully-franked dividend of US 59 cents per share, an 11% increase from last year's final payout (in US dollar terms).
Can Woodside shares keep climbing higher?
Analysts are divided about the outlook for Woodside shares this year. Many think that the stock has run its course and there isn't much room left for it to run higher, while others think we could see more upside.
TradingView data shows that 6 out of 15 analysts have a buy or strong buy rating on Woodside shares. Another 8 have a hold rating, and 1 has a sell rating.
The average target price of $28.69 implies a potential 5.79% downside ahead, at the time of writing. But the more optimistic $34 target price suggests the stock could rise another 11.66% over the next 12 months.
