Above is the 6 month chart on the US listed WDS stock. It has been on an extraordinary run since early April. Up again strongly overnight and now up over 50% from its April lows.
Exchange rate factors partly explain the difference in relative performance with the ASX listed stock….but there may be also an element of US based investors waking up to the ‘Aussie Oil and Gas co. really going places with the crazy low PE and high dividend yield’
In any case the market has finally woken up to the potential of WDS going forward….the pipeline of global projects and the reluctant shift in attitude towards fossil fuels (ie the woke west finally accepting that gas in particular has to be part of the mix for a few decades yet) has added up to a significant re-rating.
How far this re-rate goes who knows ? I’ve been on this rollercoaster before. I’m just pleased I stayed patient through the earlier part of the year - you’d be filthy if you listened to all the noise and sold out then in exasperation …..and now were watching this Lazarus like comeback from the sidelines.
WDS Price at posting:
$26.60 Sentiment: Hold Disclosure: Held
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