If Woodside lists on the NYSE it may act as a catalyst for a rerating for the whole ASX listed O&G sector. US O&G now trades above pre-covid levels (going by the sector ETF XLE), yet still at a discount to WTI. While Woodside (and the rest of the ASX listed sector) has not recovered.
My view is once US capital can flow to Woodside, including the potential for Woodside to be picked up by US ETFs, the company will re-rate to global sector multiples. I also think this will flow on to the rest of the ASX listed O&G sector due to the correlation among the stocks, and a race by institutional investors to capture the remaining value in the other listed companies.
NYSE listing - catalyst for rerating
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Last
$28.26 |
Change
-0.310(1.09%) |
Mkt cap ! $53.67B | |||
| Open | High | Low | Value | Volume |
| $28.30 | $28.38 | $28.18 | $139.2M | 4.914M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 3553 | $28.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.28 | 5441 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$28.29 |
Change
-0.310 ( 0.87 %) |
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| Open | High | Low | Volume | ||
| $28.30 | $28.38 | $28.18 | 1294841 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| WDS (ASX) Chart |