WDS has been in a bearish trend since early 2008 when it's sp was almost $70AUD - almost a 20 year decline. Another poster pointed that out, take a look at the chart. Classic bear trend, with each successive rebound being lower than the last.
The trend doesn't account for the dividend payouts during that time, but many energy stocks were valued at multiples of their current values back in the mid 2000's. These days, due to ESG concerns, a move towards renewables and the fact that oil is looked at now as "old World economy" many investors shun them.
The other problem is that it's a very capital intensive business, you have to spend billions to achieve mediocre growth (look at Scarborough). So energy stocks like WDS are viewed as good cashflow generators and reasonably reliable dividend payers, but very capex intensive with limited growth options.
I guess many investors prefer the flexibility and growth potential that comes with tech investing, as those companies have the ability to reach millions or billions of potential customers through digital platforms.
I still think WDS holds value around $18, but potentially more as a yield play rather than a growth story.
WDS Price at posting:
$20.07 Sentiment: None Disclosure: Not Held
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