Woodside stock trades at 18.72 euros as investor event nears

Woodside stock traded at 18.72 euros on Lang & Schwarz at 20:44 CET on Tuesday, November 10. The company is preparing for a New York Capital Markets Day on November 12, where investors will hear more about its capital allocation plans.

Capital discipline moves forward

In an announcement issued on November 4, Woodside set out a strategy focused on operational execution, portfolio management and shareholder returns. The company said it is targeting annual structural cost reductions of US$400 million from 2028 and portfolio return on average capital employed of 12% to 15% by the mid-2030s.

The Financial Times report on the announcement said Woodside's new distribution policy targets total returns of 20% to 40% of adjusted operating cash flow. A base dividend equivalent to 20% would take priority, with up to another 20% available for additional dividends or buybacks.

Projects underpin the outlook

Woodside said the Scarborough project was 99% complete and on track for its first LNG cargo in 2026. Trion is targeted to deliver first oil in 2028, while Louisiana LNG is targeted for first LNG in 2029.

Together with the base business, the projects are expected to support sales volume growth of more than 30% to approximately 280 million barrels of oil equivalent in 2032. Woodside also expects more than US$40 billion of adjusted operating cash flow from 2027 through 2032, subject to the assumptions in its capital markets presentation.

Investors will also watch the broader Australian equity market as Woodside presents its strategy. Current S&P/ASX 200 market reports provide the wider market backdrop.

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