A: I am also a long-standing (and suffering) shareholder in Woodside, who owns shares in the $40’s ( I also own shares in the teens). I well understand the temptation to take profits.

My inclination is that the very high $20’s/early $30’s is probably a level to take profits. While Woodside will be a beneficiary of higher oil and LNG prices, there will be a whole lot of new shareholders when the merger with BHP’s oil assets occurs. This is slated to take effect on 1 July and is bound to mean that there will be some “loose stock” around.

Looking at the major brokers, they have a consensus target price of $28.78, fractionally below the last ASX price of $28.86. The range is from a low of $26.10 from Citi through to a high of $30.50 from Credit Suisse.