The Woodside Energy Group Ltd (ASX: WDS) share price as been a solid performer in the short-term and the medium-term. At the time of writing, it's up 12% in the past month and 25% in the last year.
The ASX oil and gas share has benefited from the higher energy prices in the last few months. This is likely to significantly increase its earnings and cash flow because the company's production costs don't change much, while the revenue is likely to have a big boost. It can get more revenue for the same volume.
Woodside will release its quarterly update for the three months to 30 June 2026 on 29 July 2026.
With the US-Iran conflict continuing – and energy flows from the Middle East impacted – is this a good time to invest in the Woodside share price, or is this as good as it gets?
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What could happen next with the Woodside share price?
Analysts can tell investors what they think of a company's prospects with a share price target. That tells investors where they think the share price will go over the next 12 months. Therefore, a share price target can imply whether the business is undervalued (or overvalued), according to those analysts.
According to CMC Invest, the business has had nine analyst ratings on the ASX oil and gas share within the past three months. Of those nine expert calls, three were buy ratings, five were hold ratings and one was a sell rating.
Perhaps unsurprisingly, the Woodside share price target across those 10 analysts is $31.23, which is almost flat compared to where it's currently trading (at the time of writing). It could see a small single-digit decline in percentage terms.
But, there are also views that are much more optimistic and pessimistic, according to CMC Invest.
The most positive analyst view has a price target of $36.50, suggesting a possible rise of 15% over the next 12 months, at the time of writing.
Meanwhile, the most negative analyst view on the business suggests a possible decline of 22% over the next 12 months, at the time of writing.
Woodside's shorter-term success could depend on what happens with energy flows out of the Middle East (and Russia). In the longer-term, growing energy demand (from data centres and AI) could play a key role in Woodside's success. It's also working on growing production across its global portfolio of projects.
According to the projection on Commsec, Woodside is now valued at less than 9x FY27's estimated earnings.
