Perth, June 16, 2026, 02:04 AWST
- Woodside Energy closed at A$29.46, off 5.67% on the ASX. The main Australian index finished in the green. Investing
- Woodside knocked back takeover talk, saying it is not in proposal or talks with Exxon Mobil. Woodside
- Woodside will release its Q2 numbers July 29. Woodside
Woodside Energy Group Ltd dropped hard Monday as oil prices moved lower, putting pressure on the shares even as the Australian market gained. The stock closed at A$29.46, down A$1.77 or 5.67%. Woodside traded in a range from A$29.30 to A$31.23 during the session. While the S&P/ASX 200 rose 110 points, or 1.25%, to 8,914 on hopes that cheaper oil could ease inflation and rates, energy names struggled. The S&P/ASX 200 Energy index fell 5.58%, with Woodside leading the sector move lower. Investing
Oil prices fell hard. Brent and WTI dropped about 5% after the U.S. and Iran agreed to end hostilities and reopen the Strait of Hormuz, a key channel for oil and LNG cargoes. Reuters reported Brent down at US$82.95 and WTI at US$80.28 late Monday morning in New York. Energy stocks usually take a hit when crude falls as the market pulls back revenue, cash flow and dividend forecasts—opposite when oil is up. “With a wall of oil supply very possibly on the way, the sell-off looks justified,” Dennis Kissler, senior VP of trading at Bok Financial, told Reuters. Reuters
Woodside shares didn’t get a lift from the takeover talk. The company said it wasn’t talking to Exxon Mobil and hadn’t been approached. A takeover premium can give support to a stock if investors expect a bid. Reuters said Woodside’s U.S. shares were up 8.35% on Friday after Bloomberg reported Exxon might be looking at Woodside as a target. On the ASX, though, shares fell with the weaker oil price and after Woodside denied the rumors. Woodside
Woodside shares in focus after the company used its pre-emption right to buy out PetroChina’s 10.67% interest in the Browse Joint Venture. Woodside agreed to pay US$225 million up front, pick up PetroChina’s cash-call payments, and could hand over another US$175 million if a final investment decision lands by June 30, 2032. With no other parties stepping in, Woodside’s stake in Browse would hit 41.27%. CEO Liz Westcott called the move “a pathway to maximise long-term shareholder value.” UBS analyst Tom Allen, quoted by Reuters, said the deal signals a “materially softer valuation” than what PetroChina paid back in 2012. MST Marquee’s Saul Kavonic said most shareholders are not behind Woodside’s efforts on Browse. Woodside
Woodside is holding in a range some call fairly priced to risky after Monday’s slide. The stock trades below the average 12-month analyst target of A$33.986, about 15% higher, but most analysts stay Neutral. The latest Investing.com poll shows 4 Buy, 6 Hold and 2 Sell ratings. Bulls cite LNG growth, with Scarborough 96% finished at Q1’s end and first LNG expected late 2026, and mention options further out like Louisiana LNG and Trion. Bears point to lower oil, fading takeover talk, or possible new issues at Browse as risks. Oil’s reaction to news of Hormuz reopening and Woodside’s July 29 Q2 are next for investors, with most attention on production, prices, and costs. Investing
