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WPL, WOODSIDE PETROLEUM LIMITED
nipper
post Posted: Oct 27 2020, 09:08 AM
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Morningstar has come out with Australian Energy Stocks are Cheap and WPL is the cheapest of the lot
QUOTE
Australian E&Ps Ideally Placed to Emerge From Coronavirus Meltdown

Australian energy stocks look cheap. The COVID 19 outbreak has created a large dent in near term oil demand and triggered spiralling energy prices. The market appears to be extrapolating the current bearish oil environment to infinity, a position we do not share. U.S. shale still accounts for over 10% of global oil supply, and unless prices rebound to encourage drilling, a current global supply glut will ultimately become a shortage.

Our midcycle Brent crude price forecast is unchanged at USD 60 per barrel, well ahead of current circa USD 40 per barrel levels. But the benefit of higher prices in the future will only benefit companies that can survive the current period ... strong balance sheets and low operating costs are vital ingredients.
Thankfully, Australian companies by and large fit this bill, and none are on the hook for major capital expenditure in the near term. We have 5 star recommendations on the four major Australian E&P companies Woodside, Santos, Beach, and Oil Search. Within a close ranked group, we think Woodside offers the most attractive combination of price/fair value estimate discount, balance sheet strength, and sustainably low cost operations.

Key Takeaways

... COVID19 has sparked an unprecedented collapse in global crude consumption. We expect a year on year demand decline of around 8% or 8 million barrels per day. That is marginally better than prior expectations as a result of earlier than expected recoveries in parts of the world.

... But demand will not recover more meaningfully until economic activity, including air travel, resumes. We expect demand recovery in the 2021/ 2022 timeframe; and if producers do not resume normal activity levels by then, expect the current glut to quickly become a shortage.

... Significantly higher crude prices are necessary to incentivise the required activity, but the market is still extrapolating bottom of the cycle crude prices indefinitely, making energy stocks cheap. Australian E&P companies remain generally well placed with healthy balance sheets and low free cash flow breakeven Brent crude price points in the vicinity of USD 20 to USD 25 per barrel. All our coverage is in the 5 star zone but we think Woodside currently offers the best value at price/fair value estimate of 0.4.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Oct 14 2018, 10:28 AM
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In Reply To: blacksheep's post @ Sep 25 2018, 01:53 PM

One blue chip ready for insatiable demand - Livewire opinion piece by Adam Akexander of Evans & Partners
https://www.livewiremarkets.com/wires/stock...satiable-demand


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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 25 2018, 01:53 PM
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QUOTE
BUZZ-Australia's energy index surges as oil prices rally
** Australia's energy index <.AXEJ> jumps 2.4 pct to a near 1-1/2 month high
** Oil and gas explorers Santos , Beach Energy and Woodside Petroleum lead gains, rise in range of 2 pct to 4.1 pct
** Oil prices rally as after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply [O/R]
** Santos and Woodside each hit more than 3-year highs


WPL currently up 2.31% @ $37.915/share
https://www.shortman.com.au/stock?q=wpl
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
balance
post Posted: Mar 5 2018, 05:43 AM
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In Reply To: PeterH's post @ Feb 16 2018, 02:47 PM

I ended up selling our rights for a bit over $2 each. We were going to take them up but decided we have enough.



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Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

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PeterH
post Posted: Feb 16 2018, 02:47 PM
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In Reply To: balance's post @ Feb 16 2018, 10:39 AM

Yes Balance. I figured that if WPL is worth holding at all then a few more won't hurt.

It does appear that gas has a future even if petrol does not.

The modest but franked divi beats leaving the money in the bank anyway.


Said 'Thanks' for this post: nipper  
 
balance
post Posted: Feb 16 2018, 10:39 AM
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Good morning,

Has anyone had a look at the renounceable offer from WPL? Opinions?

1 for 9 at $27 for the purchase of up to 50% of the Scarborough gas field.



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.
 


blacksheep
post Posted: Nov 14 2017, 04:13 PM
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Woodside sell-down sparks ASX slide

Patrick Commins and Jessica Sier

QUOTE
A long-awaited "liquidity event" in Woodside Petroleum shares sparked selling across ASX bluechips and pushed the ASX 200 back below 6000 points.

The S&P/ASX 200 index immediately dropped below 6000 points at the open before heading lower through early trade. Shares regained some equilibrium later in the session but still ended the day down 56 points, or 0.9 per cent, at 5969 - their worst day in approaching two months. The wider All Ordinaries index lost 49 points to close at 6049.

Analysts suggested that institutional investors needed to make space in their portfolios after hoovering up Shell's $3.5 billion stake in Woodside Petroleum last night.

"We're seeing broad-based falls across the sharemarket and I think it's because the funding for Woodside is happening," Citi director of equity sales Karen Jorritsma said. The selling extended beyond the oil and gas space, with the major banks and miners also used as funding sources, Ms Jorritsma said. The big four lenders and BHP and Rio Tinto all fell in the vicinity of 1 per cent on Tuesday.

"There's nothing in the energy space that are equally sized to Woodside."

Nonetheless, the energy sector was where the sharpest losses were felt, losing 2.3 per cent as a group. Oil Search and Santos ended down 2.2 per cent, Beach Energy lost 3.1 per cent and Origin Energy was 1.1 per cent lower. Woodside itself dropped 3.2 per cent, in line with the discount applied to the sale of Shell's stake, a result which Ms Jorritsma labelled "a pretty good outcome".

read more - http://www.theage.com.au/business/markets/...113-gzks7w.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 14 2017, 06:04 AM
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In Reply To: abner29's post @ Nov 14 2017, 04:50 AM

abner, had me looking up ASIC provisions (and spoil my day). I think because it is a significant holding, certain actions need to be taken - RG 110.18 and 110.20. ("it is usually appropriate for shareholders to have the benefit of independent advice on whether to vote for a buy-back") - sounds messy. 

......and in this morning's rag
QUOTE
Royal Dutch Shell has sold the remainder of its stake in Woodside Petroleum, Street Talk can reveal. It is understood the oil major offloaded a another $1.2 billion stake in the the Perth-based oil and gas producer in the early hours of Tuesday morning.

Fund manager sources said both block trades saw the two investment banks jettison the Woodside shares at $31.10 apiece




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: abner29  
 
abner29
post Posted: Nov 14 2017, 04:50 AM
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In Reply To: nipper's post @ Nov 13 2017, 09:50 PM

wonder why Woodside didn't buy the block and retire the shares? Seems a benefit to the Company and its shareholders.

 
nipper
post Posted: Nov 13 2017, 09:50 PM
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In Reply To: wolverine's post @ Nov 13 2017, 09:41 PM

QUOTE
BHP should have lifted the lot
yes, but offshore has too many variabilities in the models - very hard for bean-counters to sign off on. (even though IMO the projections contain the BS assumptions, more than risk weighting)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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