How the Woodside share price outpaced the ASX 200 in February

Woodside shares finished in the green in February despite the declining oil price.

| More on:
A male oil and gas mechanic wearing a white hardhat walks along a steel platform above a series of gas pipes in a gas plant

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Following a strong final week of trading, the Woodside Energy Group Ltd (ASX: WDS) share price finished in the green in February.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy stock closed out January trading for $24.71. Shares hit a closing low for the month of $23.03 on 19 February.

But by market close on 28 February, the Woodside share price had rebounded to $24.77, putting the energy stock up 0.2% for the month.

Now, that's not exactly shooting the lights out. But it's a far cry better than the 4.2% loss posted by the ASX 200 over this same period.

Here's what investors were mulling over in the month just past.

What moved the Woodside share price?

Turning to some headwinds first, the Woodside share price continued to be pressured by a sliding oil price.

Brent crude oil started February trading at US$77 per barrel but lost more than 5% over the month to end February at US$73 per barrel amid signs that global supplies are set to grow faster than global demand.

But investors sent the ASX 200 energy stock up almost 8% in the last week and a half of the month following some strong reports from Woodside.

On 17 February, the company released an update on its global reserves and its recently minted Sangomar project, located offshore in Senegal, which achieved first oil in 2024.

"Sangomar is forecast to continue producing on plateau into the second quarter," CEO Meg O'Neil said of the project, which reached 94% production reliability in the fourth quarter of 2024.

As for the reserves, Woodside said it had remaining proved (1P) reserves of 1,975.7 million barrels of oil equivalent (MMboe) and remaining proved plus probable (2P) reserves of 3,092.2 MMboe.

"The reserves update underscores Woodside's high-quality assets and disciplined execution," O'Neill said.

Record full-year production

The Woodside share price got a healthy boost after the company released its full-year 2024 results on 25 February.

The highlight of the year was the record production of 193.9 MMboe.

However, impacted by lower realised oil and gas prices over the year, underlying net profit after tax (NPAT) declined 13% from 2023 to $2.88 billion.

This, in turn, saw management reduce the fully franked final dividend (in Aussie currency) by 10% to 83.1 cents a share, bringing the full-year dividend payout to $1.851 a share.

Looking at what could impact the Woodside share price ahead in 2025, O'Neill said:

Woodside begins 2025 with a strong balance sheet, a resilient and high-performing base business and an attractive portfolio of projects which position us to deliver value-accretive growth and shareholder returns.

Should you invest $1,000 in Aristocrat Leisure Limited right now?

Before you buy Aristocrat Leisure Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Aristocrat Leisure Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Energy Shares

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Share Gainers

Boss Energy shares have rocketed 90% in a month. Here's why

The massive rally in Boss Energy shares will be painful to the host of short sellers betting against the uranium…

Read more »

Oil worker using a smartphone in front of an oil rig.
Energy Shares

ASX 200 energy shares plunge on shock OPEC move

ASX 200 energy shares like Woodside and Santos are tumbling on Monday. Let’s find out why.

Read more »

Female oil worker in front of a pumpjack.
Energy Shares

Should you buy Woodside shares in May?

Is this energy giant a good investment right now?

Read more »

Hand holding out coal in front of a coal mine.
Energy Shares

Down 20% this year, are Whitehaven Coal shares a buy, hold or sell according to Macquarie?

Here’s what’s in store for this Australian independent coal producer.

Read more »

Rocket powering up and symbolising a rising share price.
Energy Shares

Guess which ASX uranium stock could rocket 45%

Big returns could be on offer from this stock. Let's see what Bell Potter is saying.

Read more »

A miner stands in front of an excavator at a mine site.
Energy Shares

3 ASX 200 uranium shares soaring 10%-plus today

What has got investors excited today?

Read more »

An oil worker in front of a pumpjack using a tablet PC.
Energy Shares

Woodside shares higher on 'game-changer' news

Let's see what the energy giant has announced on Tuesday.

Read more »

A Paladin Energy miner wearing a hard hat and protective gear stands in front of a large mining truck and smiles to the camera.
Energy Shares

Paladin Energy shares have surged 32% in 2 days. Macquarie says that's the tip of the iceberg

After a tough year, the future is looking brighter for Paladin Energy shares.

Read more »