Woodside Energy Group Ltd (ASX: WDS) and BHP Group Ltd (ASX: BHP) shares have delivered some benchmark smashing gains over the past year.
On Monday afternoon, Woodside shares were trading for $31.96 apiece. This sees the Woodside share price up 36.5% in 12 months, compared to the 1.9% one-year losses posted by the S&P/ASX 200 Index (ASX: XJO).
Atop those capital gains, Woodside also paid $1.631 a share in fully franked dividends over the year. The ASX 200 oil and gas stock trades on a fully franked trailing dividend yield of 5.1%.
And BHP shares have performed even better.
On Monday, shares in Australia's biggest miner – and the biggest stock on the ASX – were changing hands for $60.41 each, up 44.1% in 12 months.
BHP also paid two fully franked dividends over this time, totalling $2.419 per share. BHP stock trades on a fully franked trailing dividend yield of 4.0%.
And looking ahead, Fairmont Equities' Michael Gable forecasts more outperformance to come from both ASX 200 titans (courtesy of The Bull).
Here's why.
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Should I buy BHP shares today?
"I believe commodities markets are in the early stages of a bull run, leaving BHP's share price in a prime position to move higher," Gable said.
Among the reasons Gable issued a buy recommendation for BHP shares is the miner's fast-growing exposure to copper. The price of the red metal has surged over the last year amid strong demand growth spurred by the global energy transition and a huge new pipeline of AI enabled data centre construction.
Gable noted:
Copper now generates most of BHP's earnings after it produced almost 2 million tonnes in full year 2026. The company should also benefit from constrained global supplies of copper. Iron ore is also a significant contributor to full year earnings.
The company posted an attributable profit of $US9.8 billion in full year 2026, up 9 per cent on the prior corresponding period. We view any share price dips as a buying opportunity.
Woodside shares tapping into energy crisis
Atop his bullish outlook on BHP shares, Gable also issued a buy recommendation on Woodside shares.
"We turned bullish on crude oil prior to the war in Iran due to a looming imbalance between supply and demand," he said. "The war has interrupted supplies, which has led to higher prices."
Summarising his buy advice, Gable concluded:
I believe crude oil prices are likely to move higher in the absence of a peaceful and sustained resolution in the Middle East. I acknowledge some investors doubt crude oil prices will move higher.
However, as the largest energy stock on the ASX, buying support should continue to grow for WDS.
