Woodside, page-5047

Now could be a good time to buy Woodside Energy Group Ltd (ASX: WDS) shares.

That's the view of analysts at Ord Minnett, which believe that the energy giant could be in the buy zone right now.

In fact, the broker believes that market-beating returns could be on offer for those that buy at current levels.

Buy Woodside shares

According to a recent note, the broker has put a buy rating and $25.00 price target on its shares.

Based on where they currently trade, this implies potential upside of 17% for investors over the next 12 months.

In addition, a dividend yield in the region of 6% is expected by the market in FY 2025. If this proves accurate, it will boost the total potential return beyond 23%.

Ord Minnett labelled Woodside shares as a buy this week. It told The Bull the following:

First quarter production of 49.1 million barrels of oil equivalent in fiscal year 2025 was down 4 per cent on the fourth quarter of fiscal year 2024. This was due to weather impacts at the North West Shelf and unplanned outages at Pluto. The Scarborough Energy project remains on track for first LNG cargo in the second half of 2026.

Woodside recently approved the Louisiana LNG development and is targeting first LNG in 2029. The company sustained production guidance of between 186 million and 196 million barrels of oil equivalent for full year 2025. The hard work appears to be done on a strategy reset. The company's outlook is brighter.

Another bull

It isn't just Ord Minnett that is bullish on Woodside shares. Morgans recently put an add rating and $30.10 price target on them.

This suggests that even greater upside of 40% is possible between now and this time next year. It said: