Woodside Energy Group Ltd (ASX: WDS) shares are storming higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) energy stock closed on Thursday trading for $34.89. In early afternoon trade on Tuesday, shares are swapping hands for $35.50 apiece, up 1.8%.
For some context the ASX 200 is up 1.6% at this same time.
Spurred by surging global gas and oil prices, Woodside shares are now up a whopping 50.5% since market close on 31 December, while the benchmark index is just about flat over this same period.
And this doesn’t include the 83.5 cents per share fully franked dividends that Woodside paid out to eligible stockholders on 27 March.
If we add that back in, then Woodside stock has gained 54.0% so far in 2026. And this is a company with a market cap north of $67 billion.
With this picture in mind, is the ASX 200 energy share still a good buy today?
Should you buy Woodside shares today?
Fairmont Equities’ Michael Gable recently analysed the outlook for the Aussie oil and gas giant (courtesy of the Bull).
“We were buying this major oil and gas producer prior to the conflict in Iran in response to looming supply issues,” Gable said. “Investors have been underweight in the energy sector.”
According to Gable, who currently has a hold recommendation on Woodside shares:
As the world increasingly focuses on tightening energy supplies, we expect investors will start adding the most liquid and blue-chip energy stocks to their portfolios. The largest on the ASX is Woodside Energy.
Indeed, with the Iran war crimping global supplies, Brent crude oil is trading for US$111 per barrel today, up 83% year to date.
As for his hold recommendation on Woodside, Gable concluded, “The share price recently pushed beyond several major technical levels, which is a positive sign from a charting point of view.”
What’s the latest from the ASX 200 energy stock?
Woodside reported its full calendar year 2025 results on 24 February.
Highlights included record full-year production of 198.8 million barrels of oil equivalent (MMboe), exceeding the company’s guidance.
The company reported revenue of $12.98 billion, down 1.0% year on year. And with 2025 realised oil prices significantly lower than in 2024, underlying net profit after tax (NPAT) of $2.65 billion was down 8%.
But with the final dividend slipping only 1.6%, and the outlook for oil and gas prices already improving in late February, Woodside shares closed up 2.4% on the day of the results release.
The post Up 54% in 2026, are Woodside shares still a good buy today? appeared first on The Motley Fool Australia.
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More reading
- Buy, hold, sell: Aristocrat, BHP, and Woodside sharesÂ
- How ASX 200 energy shares like Santos, Beach and Woodside surged in March’s sinking market
- These were the best-performing ASX 200 shares in March
- How are these 5 ASX share giants really tracking in 2026?
- Are investors taking a massive gamble by chasing the Woodside share price higher?
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.