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The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price climbed today, but can it get higher?

The bank’s shares nudged over the $10 mark on Thursday to close at $10.03, a 0.5% gain.

Let’s take a look at what is happening at Bendigo Bank.

Broker upgrade

Credit Suisse has recently upgraded the bank to “outperform”, The Australian reported. The analysts have an $11.10 target price on the bank.

This is 10% more than the current share price. Bendigo Bank will be offering a fully franked dividend of 26.5 cents per share on 31 March. This is 12.8% more than the prior corresponding half of H1 FY21.

Morgans has also recently upgraded the bank’s shares to equal weight from underweight, as my Foolish colleague Aaron reported recently. Jarden Australia has also lifted its price target on the bank’s shares.

Bendigo Bank reported positive H1Y22 results in the latest reporting period and its shares jumped nearly 2% on the back of these results. Profit surged a massive 31.7% to $321.3 million. Bendigo Bank revenue increased 8.5% while cash earnings jumped by 18.7% to $260.7 million.

Many ASX bank shares also jumped today. The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price climbed 1.32%, National Australia Bank Ltd (ASX: NAB) jumped 1.27%, and Commonwealth Bank of Australia (ASX: CBA) leapt 1.33%.

The US Federal reserve raised interest rates by 0.25% in a meeting on Wednesday in America. AMP chief economist Shane Oliver said the Reserve Bank of Australia will follow in their footsteps, the Sydney Morning Herald reported.

Dr Oliver stated:

The RBA will soon follow the Fed in starting to raise interest rates. We expect the first hike to come in June taking the cash rate to 0.25 per cent, with three hikes in total this year taking it to 0.75 per cent by year end.

Bendigo Bank share price snapshot

The Bendigo Bank share price has gained nearly 3% in the past 12 months but has surged 10% this year to date.

In the past month, Bendigo Bank shares have fallen 0.4%, but have risen 8% in the past week.

Bendigo Bank has a market capitalisation of $5.6 billion based on the current share price.

The post Can the Bendigo Bank (ASX:BEN) share price stick above the $10 mark? appeared first on The Motley Fool Australia.

More reading

• Is the Westpac (ASX:WBC) share price the cheapest bank to buy right now?
• Here’s why the Bendigo Bank (ASX:BEN) share price is sliding 5% today
• Time is running out to secure the Bendigo Bank (ASX:BEN) dividend. Here’s why
• Up 11% in two weeks. What’s been driving the Bendigo Bank (ASX:BEN) share price lately?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It was an eventful day of trade for the Life360 Inc (ASX: 360) share price.

Early on in the day, the location technology company’s shares were up as much as 14% to $5.97. However, by the end of the session, the Life360 share price was trading broadly flat at $5.23.

This is despite the ASX 200 index rising 1.05% and the S&P/ASX All Technology Index storming 3.3% higher for the day.

In light of the Life360 share price missing out on the rally today, it is still down 45% since the start of the year.

Is the weakness in the Life360 share price a buying opportunity?

The team at Bell Potter believes the Life360 share price is great value at the current level.

In fact, based on a note released this morning, the broker sees almost 100% upside for investors over the next 12 months.

According to the note, Bell Potter has retained its buy rating and $10.00 price target on the company’s shares.

What did the broker say?

Although Bell Potter expects some impact on sales of its Tile products due to privacy/stalker concerns around Apple AirTags, it is still forecasting overall strong growth in FY 2022.

It commented: “We expect the strong growth in the core business of Life360 (i.e. ex Jiobit and Tile) shown in Q3 and Q4 of last year to continue into Q1 this year. Specifically, we expect the year-on-year growth in AMR (annualised monthly revenue) – excluding Jiobit and Tile – to be c.50% in March 2022 which is similar to the reported y-o-y growth of 48% in September and 51% in December 2021. We also forecast similarly strong y-o-y growth in Q1 revenue – excluding Jiobit and Tile – of 48% to US$34.0m.”

“Conversely, however, we expect the Q1 revenues of both Jiobit and Tile to be relatively flat y-o-y due mainly to continued supply constraints and some potential temporary easing of demand for Tile products given the privacy concerns around Apple AirTags. In our view, however, relatively flat revenues in these businesses are not a bad result given the current constraints and/or headwinds,” it added.

The post Life360 (ASX:360) share price gives back 14% gain, but this broker remains bullish appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Block and Zip shoot higher, Ampol’s acquisition boost
• 3 ASX growth shares brokers rate as buys
• Tech-tonic shift? ASX tech shares rally following Nasdaq’s lead
• Broker names the 3 best ASX tech shares to buy today
• Glitch! Why are ASX tech shares getting hammered on Monday?

Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. 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 Bruce Jackson.

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On Wednesday, we looked at three ASX shares that brokers have given buy ratings to this week. Unfortunately, not all shares are in favour with brokers right now.

Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why they are bearish on them:

Air New Zealand Limited (ASX: AIZ)

According to a note out of Macquarie, its analysts have retained their underperform rating but lifted their price target on this airline operator’s shares slightly to NZ$1.15 (~A$1.08). This follows news that New Zealand is opening its borders sooner than previously expected. While Macquarie acknowledges that this is a positive, it appears to believe it may be too soon to get excited. The broker expects it to take a bit of time before capacity rebounds and travel is booming again. The Air New Zealand share price is trading at $1.37 today.

Insurance Australia Group Ltd (ASX: IAG)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $3.90 price target on this insurance giant’s shares. Following the floods, the broker has concerns that IAG is at risk of elevated catastrophe budget increases in FY 2023. It suspects that this could further increase the cost of capital for the insurer. The IAG share price is fetching $4.58 on Thursday afternoon.

Seven West Media Ltd (ASX: SWM)

Analysts at Goldman Sachs have downgraded this media company’s shares to a sell rating with a 60 cents price target. According to the note, the broker made the move on valuation grounds and due to its belief that Seven West Media will fall short of the market’s earnings estimate in FY 2023 and FY 2024. It also sees less long term opportunities to offset total TV revenue declines than peers. The Seven West Media share price is trading at 63 cents on Thursday.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

• Is it time to sell IAG (ASX:IAG) shares following the recent flood events?
• Top fund manager rates these 2 small cap ASX shares as buys
• Why is the IAG (ASX:IAG) share price edging higher today?
• Top brokers name 3 ASX shares to sell today
• Air New Zealand (ASX: AIZ) share price plummets 16% in a month

Motley Fool contributor James Mickleboro 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 owns and has recommended Insurance Australia Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Xero Limited (ASX: XRO) share price has made strong gains since its debut on the ASX in 2012.

The cloud accounting platform provider had a minuscule market capitalisation of NZ$55 million (A$51.49 million) when it was listed on the New Zealand stock exchange (NZX) through an initial public offering (IPO) on 5 June 2007.

The IPO raised $15 million from various investors, notably falling short of its $18 million target. Xero shares were valued at a price of NZ$1 each (A$0.94).

However, when Xero dual-listed on the ASX on 8 November 2012, its value accelerated to almost $450 million.

In February 2018, Xero decided to transition to a sole listing on the ASX, leaving behind the NZX. At that time, the company’s market capitalisation had soared to about $4.5 billion.

At today’s valuation, Xero is now worth more than $14.9 billion.

Below, we take a look at the power of long-term investing. We will calculate how much you would have made if you invested $5,000 in Xero shares a decade ago.

What was the Xero share price in 2012?

If you had invested $5,000 in Xero shares in 2012, you would have bought them for about $4.48 apiece. This would have given you approximately 1,116 shares, without topping up along the way.

Fast-forward to today and the current Xero share price is $100.06. This means that those 1,116 shares would be worth an astonishing $111,666.96 (1,116 shares x $100.06). When looking at percentage terms, this implies a gain of about 2,230%.

If you are wondering about dividends, the company has chosen not to pay a percentage of its profits to date. Instead, it has reinvested in the business, which seems to have paid off for shareholders.

How has Xero compared against the ASX 200?

On average, the ASX 200 has returned 5.31% to shareholders in the past decade.

The most significant gain was achieved in 2019 when the index grew 23.02%. On the other hand, the biggest fall came in 2011, down 10.84%. You might be thinking that 2020 would be on the list, but during that year, the ASX 200 rebounded sharply.

The Xero share price has historically outperformed the ASX 200 by a long shot. In the past 10 years, the company has delivered a yearly average return of 36.43% since 2012.

Should you invest $5,000 in Xero shares right now?

Two brokers have rated Xero at different share price points in the past month.

The first was Macquarie, whose analysts raised their rating of Xero shares from underperform to neutral. However, they slashed their 12-month price target by 23% to $100 per share, which is in line with Xero’s price today.

Following suit, the team at Citi also lowered its outlook by 17% to $132.60. It appears the broker believes Xero shares are undervalued at their current price. If they’re right, that’s a potential upside of 32.5% over the next 12 months.

The Xero share price is up 3.3% today to $100.12.

The post Guess how much $5,000 invested in Xero (ASX:XRO) shares 10 years ago would be worth now appeared first on The Motley Fool Australia.

More reading

• Hero to Xero? The Xero (ASX:XRO) share price is now down 36% in 2022
• ASX 200 (ASX:XJO) midday update: Block falls, Nickel Mines jumps
• 3 excellent ASX growth shares analysts believe have huge upside potential
• 3 beaten-up ASX tech shares that ‘tick all the boxes’: fundies
• Leading brokers name 3 ASX shares to buy today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Xero. The Motley Fool Australia owns and has recommended Xero. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record another strong gain. At the time of writing, the benchmark index is up 1.1% to 7,251.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

ASX Ltd (ASX: ASX)

The ASX share price is down 2% to $80.61. This follows an outage which saw its ASX 24 futures contracts trading platform go offline for several hours. The stock exchange operator has since revealed that it is now up and running. It commented: “ASX can confirm that the issue was caused by a hardware fault, which has been resolved.“

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global Resources share price is down 4.5% to $1.82. This decline is entirely attributable to the coal miner’s shares going ex-dividend this morning for its 8.8 cents per share final dividend. In fact, if you take this out of the equation, the company’s shares would be a fraction higher for the day. Eligible shareholders will be paid this dividend next month on 8 April.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is down 3.5% to $8.39. This is despite there being no news out of the grain exporter. However, it is worth noting that its shares had risen over 35% during the last six months prior to today’s decline. Some investors may have decided to take a bit of profit off the table and rotate into other areas of the market.

Integral Diagnostics Ltd (ASX: IDX)

The Integral Diagnostics share price is down 2.5% to $3.77. This morning the medical imaging services provider announced the completion of the retail component of its entitlement offer. Integral Diagnostics raised approximately $43 million at the offer price of $3.44 per new share, bringing the total raised to ~$90 million. However, there was only a 40% take up rate by retail shareholders, which ultimately led to around half of the retail offer being allocated to sub-underwriters.

The post Why ASX, Coronado, Graincorp, and Integral Diagnostics shares are dropping today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Block and Zip shoot higher, Ampol’s acquisition boost
• 2 ASX shares to buy now at bargain prices that you’ve forgotten about
• Why Goldman says to buy these ASX coal shares right now
• Leading brokers name 3 ASX shares to sell today
• These 3 ASX 200 shares are topping the volume charts on Tuesday

Motley Fool contributor James Mickleboro 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 recommended Integral Diagnostics Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is benefitting from another strong performance here on the ASX this Thursday. At the time of writing, the ASX 200 is up a pleasing 1% at just under 7,250 points. 

But let’s dig a little deeper into these gains and have a look at the ASX 200 shares that are currently at the top of the market’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume on Thursday

Zip Co Ltd (ASX: Z1P)

The ASX’s largest buy now, pay later (BNPL) share Zip is our first share of the day today. Zip has had a notable 19.96 million of its shares swap hands as it currently stands. This has almost certainly been sparked by the gigantic leap upwards the company has enjoyed during today’s trading session.

The Zip share price is currently up an eye-catching 10.5% at $1.58 a share after going as high as $1.62 in earlier trading. No wonder this company is experiencing higher than normal trading volumes. 

Nickel Mines Ltd (ASX: NIC)

Nickel Mines is our next ASX 200 share to check out today. This resources share has seen a hefty 22.91 million shares bought and sold at the time of writing. This doesn’t appear to have been caused by any news out of the company itself.

So we can probably assume it is the result of the movement of the Nickel Mines share price itself. At present, the company is up a robust 5.42% at $1.26 a share. This is the likely source of this elevated trading volume. 

Telsra Corproation Ltd (ASX: TLS)

ASX 200 telco Telstra is last up this Thursday. At present, a sizeable 23.11 million Telstra shares have found their way around the ASX boards thus far. Again, there have been no major news or announcements out of the company, save for a share buyback notice that is probably helping this volume. 

But Telstra shares have had a rather wild day. They were up at $4 at one point, but have cooled off in afternoon trading and are now going for $2.96 each, up 0.13% for the day. This bouncing around has likely also contributed to this volume of shares trading. 

The post These 3 ASX 200 shares are topping the volume charts this Thursday appeared first on The Motley Fool Australia.

More reading

• Why Ampol, EML, Vulcan, and Zip shares are zooming higher
• Why the Zip share price is surging 12% higher today
• ASX 200 (ASX:XJO) midday update: Block and Zip shoot higher, Ampol’s acquisition boost
• Is the party over for ASX 200 gold shares?
• ASX 200 shares open with a bang following US interest rate rise

Motley Fool contributor Sebastian Bowen owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The All Ordinaries Index (ASX: XAO) is in a buoyant mood this Thursday. At the time of writing, the All Ords is up a very pleasing 1.2% at just over 7,500 points. But one ASX share is doing a whole lot better. That would be the Kogan.com Ltd (ASX: KGN) share price.

Kogan shares are presently trading at $5.56 each, up a rather extraordinary 13.24%. So what has happened to this ASX e-commerce company to elicit such a response from investors?

Well, unfortunately, the answer is not clear. The company hasn’t put out any news or ASX releases today that might easily explain this move.

Kogan share price caught in a tornado of goodwill?

However, let’s put today’s move in context. Before this leap upwards, Kogan shares had lost more than 41% of their value in 2022 to date.

Even after today, the company remains down more than 35% this year. Kogan arguably falls into the ‘growth share‘ characterisation that many market participants love to use.

Growth shares are typically in favour when the market is in the mood for taking risks and making money. But conversely, they are often the first shares to be sold when there is an investing climate dominated by fear. And 2022 has certainly served up a lot more fear than greed thus far.

But today, the markets seem to be in a very good mood, which could explain the rush back into Kogan that we are seeing.

It’s not just Kogan either. Many of the ASX’s most prominent growth shares that have seen nasty share price falls this year are also booming today. Look at Zip Co Ltd (ASX: Z1P), up 10.3%. Or Block Inc (ASX: SQ2), up nearly 11%. Polynovo Ltd (ASX: PNV) has gained 8.8% so far today.

Thus, it appears this ‘risk-on’ sentiment may be the primary driving force behind the Kogan share price’s gains so far this Thursday.

No doubt shareholders will be hoping the party continues tomorrow.

At the current Kogan share price, this ASX e-commerce share has a market capitalisation of $525.01 million.

The post Lucky 13? Why the Kogan (ASX:KGN) share price is leaping 13% today appeared first on The Motley Fool Australia.

More reading

• 2 ASX All Ords shares jumping more than 15% today
• These are the 10 most shorted ASX shares
• Why did the Cobalt Blue (ASX:COB) share price rocket 30% in a week?
• Why has this ASX share you’ve never heard of soared 30% already this month?
• What a Boss! Why the Boss Energy (ASX:BOE) share price is soaring 13% today

Motley Fool contributor Sebastian Bowen owns Kogan.com ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc., Kogan.com ltd, POLYNOVO FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Magellan Financial Group Ltd (ASX: MFG) share price… well, it hasn’t been pretty, to say the least.

Magellan is now up almost 15% since Tuesday morning’s trading. However, that doesn’t hide the fact this fund manager is still down 27% in 2022 thus far, and down a nasty 66% over the past year alone.

With the $15.44 share price at the time of writing, it’s hard to imagine it was only a bit over two years ago that this company was fetching more than $70 a share.

So what on earth has gone so wrong for Magellan?

Well, there has been a seeming cavalcade of bad news stemming from the company in recent times. We had the reportedly temporary departure of its former star stock picker, Hamish Douglass, in February for health reasons. This followed public revelations of Douglass’ divorce. But we also had some high-profile institutional funds pulling their capital out of Magellan’s management.

But perhaps the root cause here is the disappointing performance of Magellan’s underlying investments. Most of the company’s woes seem to start there.

Magellan isn’t shy when it comes to charging management fees. Its flagship Magellan Global Fund, which has an ASX-listed version in Magellan Global Fund (ASX: MGF), bills investors 1.35% per annum. Its Magellan High Conviction Fund (ASX: MHHT) charges 1.5% per annum. That’s many multiples higher than what a typical index fund charges. So it’s fair to say that with management fees like that, investors expect significant market outperformance.

But unfortunately, that is something the company has struggled with in recent years.

Magellan funds battle chronic underperformance

The Magellan Global Fund has returned 9.9% over the past 12 months, according to the company’s latest data. That doesn’t exactly look great against its MSCI World Net Total Return Index benchmark, which has given investors an 18.15% return over the same period. Over the past 5 years, the unlisted fund has returned an average of 11.65% per annum against the benchmark’s 13.36% per annum. These metrics are after fees have been taken into account, by the way. It’s only over the past 10 years that Magellan Global Fund beats its benchmark. But even then, it’s by 0.01% per annum (15.23% versus 15.22%).

Magellan likes to say that its Global Fund has “downside protection built in”. But over the past six months, the fund has lost 8.06% against the benchmark’s 3.96%.

Although the company’s High Conviction Fund doesn’t use a benchmark, it has given investors a return of 10.27% per annum over the past five years, again below the MSCI’s 13.36%.

So you get the picture. 

What’s gone wrong?

Most of these woes stem from what seem to be poorly-timed investments. The company bet big on Chinese companies like Alibaba and Tencent, just before a series of Chinese regulatory crackdowns and geopolitical tensions saw investors lose faith en-masse in Chinese companies. 

Netflix Inc (NASDAQ: NFLX) was a major holding when the company dropped more than 20% upon an earnings report earlier this year. Netflix is now down more than 40% year to date. It was a similar story with Facebook, now Meta Platforms (NASDAQ: FB).

Now Magellan’s co-founders have famously described themselves as disciples of Warren Buffett and his trademark buy-and-hold investing style.

Buffett has routinely been pilloried over his career for periods of underperformance, only to prove the doubters wrong again and again. Perhaps the same will happen with Magellan and its funds. But for investors who have been buying-and-holding Magellan funds or, indeed, Magellan shares, for years, patience would certainly be being tested.

At the current Magellan share price, this ASX 200 funds manager has a market capitalisation of $2.86 billion.

The post Down 80%, what’s gone so wrong for Magellan (ASX:MFG) shares? appeared first on The Motley Fool Australia.

More reading

• 3 high-dividend ASX shares that are TRAPS: expert
• Why Arafura, Block, Magellan, and Qantas shares are storming higher
• ASX 200 (ASX:XJO) midday update: Magellan jumps on buyback news, travel shares take off
• Magellan (ASX:MFG) share price on watch after announcing share buyback
• Leading brokers name 3 ASX shares to sell today

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Meta Platforms, Inc. and Magellan High Conviction Trust. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Meta Platforms, Inc. and Netflix. The Motley Fool Australia has recommended Meta Platforms, Inc. and Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX tech shares, as a whole, are having a stellar day.

The S&P/ASX All Technology Index (ASX: XTX) is up 3.9% in afternoon trading. That’s almost twice the 1.5% gains posted by the All Ordinaries Index (ASX: XAO) at this same time.

This follows on a strong run from US tech shares yesterday (overnight Aussie time), which saw the tech-heavy Nasdaq finish the day up 3.8%.

You might think that growth shares would be under pressure following the US Federal Reserve’s 0.25% interest rate hike. But Fed chair Jerome Powell’s bullish take on the US economy, the world’s biggest, looks to have investors’ monetary tightening concerns.

So, which ASX tech shares are charging ahead of the pack today?

Block is off to the races

The Block Inc CDI (ASX: SQ2) share price is off to the races today, up 11.1%.

Block shares closed yesterday at $142.92 and are currently trading for $158.87.

The dual-listed ASX tech share looks to be building off the rally of its US-listed share, which finished the day up 12.6% on the New York Stock Exchange.

Today’s rally will come as welcome news to shareholders of Block, which recently acquired Aussie buy now, pay later (BNPL) leader Afterpay. Despite today’s big lift, Block shares remain down 29% so far in 2022.

This ASX tech share is also racing ahead

Also leading the charge higher today is Brainchip Holdings Ltd (ASX: BRN).

The Brainchip share price is up 8.3% today. Shares closed yesterday at 93 cents and are currently trading for $1.01.

With no fresh news out from the artificial intelligence technology company, it looks like investors may be doing some bargain hunting. At the opening bell this morning, Brainchip shares were down 15% since Friday’s open.

With today’s intraday gains factored in, the ASX tech share remains down 29% over the past month, though shares are up 27% year-to-date.

The post Guess which ASX tech shares are leading the pack today? appeared first on The Motley Fool Australia.

More reading

• Here’s why the BrainChip (ASX:BRN) share price is up 9% today
• ASX 200 (ASX:XJO) midday update: Block and Zip shoot higher, Ampol’s acquisition boost
• The Block (ASX:SQ2) share price is soaring 11% today. Here’s why
• Why Arafura, Block, Magellan, and Qantas shares are storming higher
• Why Block, Breville, Megaport, and Webjet shares are falling today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Woodside Petroleum Limited (ASX: WPL) share price is struggling today amid fluctuating commodity prices.

The ASX 200 energy share is currently trading at $30.31, a 2.1% fall on its previous closing price. In comparison, the S&P/ASX 200 Index (ASX: XJO)  is up 1.17%.

So what is going on with Woodside?

What’s happening with Woodside?

The Woodside share price could have been impacted by turbulent oil prices and falling natural gas prices. Woodside explores, develops and produces both oil and gas in Australia and internationally.

The natural gas price has fallen 0.17% to US$4.74 MMBtu (Metric Million British thermal unit), according to Bloomberg.

International benchmark Brent crude oil dropped 1.9% to $98.02 a barrel in the US on Wednesday, while WTI crude fell 1.08% to $95.04 a barrel. This is a huge drop from recent hikes that saw Brent oil hit US$140 a barrel in early March.

US President Joe Biden even highlighted falling oil prices in a tweet on Wednesday. He said: “Oil prices are decreasing, gas prices should too.”

However, oil futures rose in early trading Thursday, Reuters reported. A report from the International Energy Agency predicted three million barrels a day of Russian oil could be held in the country due to western sanctions.

Woodside is not the only ASX energy share struggling today. The Santos Ltd (ASX: STO) share price has also dropped 0.2%. Meanwhile, the S&P/ASX 200 Energy (ASX: XEJ) index is down 0.39%.

As my Foolish colleague Sebastian reported recently, Woodside CEO Meg O’Neill believes the war in the Ukraine puts the “spotlight” on natural gas.

Woodside share price snapshot

The Woodside share price has soared 21% over the past year. In 2022, it is up 38% to date.

In the past month, Woodside shares have gained 14%, while they have fallen 8% in a week.

Woodside has a market capitalisation of about $29 billion based on its current share price.

The post Why is the Woodside (ASX:WPL) share price missing out on all the fun today? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Why are ASX renewable shares struggling in 2022?
• Why is the crude oil price tumbling and which ASX 200 shares are being impacted?
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