Tag: Stock pick

The Meteoric Resources NL (ASX: MEI) share price is flat in Thursday morning trade, at 15 cents a piece. It’s welcome news for the ASX small-cap, rare-earths-focused Australian mineral exploration company. Its shares have plummeted 39% from their annual peak of 25 cents in mid-October.

The shares are still trading a whopping 90% higher than this time last year.

Just last week, the developer announced it has produced its first batch of mixed rare earth carbonate (MREC) from its recently constructed pilot plant for the Caldeira Rare Earth Project in Brazil. It’s a significant production milestone.

After a site visit to the Caldeira Rare Earth Project, analysts at Macquarie Group Ltd (ASX: MQG) have updated their stance on the small-cap stock.

Macquarie’s rating on the ASX small-cap stock

In a note to investors, the broker has confirmed its outperform rating and 39 cents target price on Meteoric Resources shares. At the time of writing, this implies that the share price could jump 160% higher over the next 12 months.

“Despite recent permitting setbacks, MEI continues to execute its development plan with steady progress. We see value in the company, which is currently trading at an implied NdPr price of <US$80/kg,” the broker said in its note.

Meteoric Resources’ pilot plant is ramping up

The team at Macquarie explained that it recently visited Meteoric Resources’ Caldeira ionic clay rare earths project in Brazil. The site visit followed news that the plant has begun production.

The plant is located at the company’s research centre at Poços de Caldas, with close proximity to the Caldeira deposit. Macquarie added that the pilot plant was completed on time and under the budget of $2.2 million from the pre-feasibility study.

The plant operates using local water and hydro-power, and most reagents are sourced from within Brazil. 

“The pilot plant has a designed nameplate capacity of ~2 kg/day of MREC, supported by ore throughput of 25 kg/hour,” Macquarie’s analysts explained in the note.

“We believe continued rampup of the plant will enable MEI to initiate off-take discussions with downstream customers, a critical near-term catalyst.

“Near-term priorities include improving product quality, followed by volume ramp-up. We believe this approach is appropriate for a chemical facility where price realisation is highly dependent on product quality.”

Preliminary Licence approval for the Caldeira Project is scheduled for review by the State Council for Environmental Policy (COPAM) on 19 December. Macquarie’s analysts said that mining activity is already well-established in the region.

The post This ASX small-cap mining stock is tipped to rocket 160% higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy</a>. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Telix Pharmaceuticals Ltd (ASX: TLX) shares are falling with the market on Thursday morning.

At the time of writing, the radiopharmaceuticals company’s shares are down 0.5% to $11.68.

What’s going on with Telix shares?

The company’s shares were under pressure on Wednesday and dropped almost 7%. This appears to have been driven by rumours that were circulating in the market regarding its ProstACT Global Phase 3 study.

This study is testing its lead prostate cancer therapy candidate, TLX591 (lutetium ( 177Lu) rosopatamab tetraxetan), in patients with metastatic castration resistant prostate cancer (mCRPC).

According to an announcement after the market close yesterday, Telix has become aware of “inaccurate information in market circulation” and has decided to respond with an update.

What did Telix announce?

It notes that ProstACT Global is the first phase 3 trial to combine a PSMA-targeted radio antibody-drug conjugate (rADC) therapy administered together with standard of care (abiraterone, enzalutamide, or docetaxel) versus the standard of care alone.

Telix confirmed that it has completed patient enrolment into part 1 of the study, a safety and dosimetry lead-in, in accordance with the study protocol.

This means that preparation is now underway to complete data lock and read-out. This includes data from each of the three cohorts in part 1, including the docetaxel cohort which was the final cohort to complete enrolment.

Management points out that as previously disclosed, data from part 1 will be presented to the United States (U.S) Food and Drug Administration (FDA) to ascertain eligibility for U.S. patients to participate in the part 2 (randomised treatment expansion) portion of the study.

The preliminary results from part 1 of the study will be publicly disclosed at the time of readout and engagement with the FDA.

How are things going?

Telix hasn’t provided any data, but it appears to be hinting at positive outcomes.

It notes that in accordance with the study protocol, an independent data monitoring committee (IDMC) has reviewed the available data in part 1 of the study and recommended that the study proceed to part 2.

In light of this, Telix has advanced the study into part 2 in jurisdictions where it has obtained approval from health authorities.

Part 2 has been initiated on the basis that part 1 indicates no unexpected safety or clinical characteristics that differ from prior experience.

Furthermore, part 2 of ProstACT Global has dosed its first patients, and is approved and open for enrolment in Australia, New Zealand and Canada. The study has also received regulatory approval to commence in China, Singapore, Türkiye, the United Kingdom, South Korea and Japan.

Management notes that as part of the further global expansion of the trial, Telix intends to file a clinical trial application (CTA) with the European Medicines Agency (EMA) to enable expansion into EU sites.

The post Why is everyone talking about Telix shares this week? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Back in late October, Karoon Energy Ltd (ASX: KAR) announced that Carri Lockhart would take on the top role as Managing Director of the company, with a remit to oversee a major evolution in its operations.

As the company said at the time:

This marks a significant leadership transition as Karoon prepares to take over the operatorship of the Bauna FPSO in Brazil and progress its organic growth opportunities in both Brazil and the US, as well as managing key farm-downs and creating value from the strategic exploration acreage in the Southern Santos Basin.

Ms Lockhart, the company said, brought “extensive global experience in oil and gas with more than 30 years of experience in the energy industry, most recently at Equinor ASA and prior to that, at Marathon Oil Company”.

New leadership gets a tick

The Macquarie team, in a note to clients, said they had met with Ms Lockhart and chair Peter Botten, and said she “appears likely to bring improved technology and operational efficiency focus on Karoon’s production assets (particularly in Brazil where is operates with 100% equity)”.

They added that she also appeared to have a focus on shareholder value.

Macquarie has a neutral recommendation on Karoon Energy shares, unchanged from before they met with Ms Lockhart, but the analysts said they were “encouraged” by her leadership style.

Macquarie’s 12-month price target on the shares is $1.65 compared with $1.55 at the close of trade on Wednesday.

Factoring in the dividend yield, this would represent a total shareholder return of 7.1%.

Macquarie also cut its expectations for financial year production to 8.2 million barrels of oil equivalent, which the analysts said would be about a 20% decline year on year.

Karoon, in its most recent quarterly report, said calendar 2025 production guidance had been narrowed to 9.7-10.5 million barrels of oil equivalent, from the previous guidance of 9.8-10.4.

Growth assets developing

The company at the time also stated that it had been successful in bidding for a new offshore exploration block, approximately 70km east of its existing offshore blocks in the Santos Basin off the Brazilian coast.

As the company said at the time:

Through prudent bidding in the last three Brazil licensing rounds Karron has acquired an extensive but relatively low-cost position with no well commitments, over what we believe may be a potentially significant new … exploration play.

Karoon shares were steady at $1.55 on Thursday. The company was valued at $1.12 billion at the close of trade on Wednesday.

The post With a new boss in place, are Karoon Energy shares a buy, hold or sell? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Janison Education Group Ltd (ASX: JAN) were trading sharply higher on Thursday after the company announced a contract which was one of its “most significant international wins”.

The company said it had struck a five-year national contract with the New Zealand Ministry of Education to deliver the Student Monitoring, Assessment and Reporting Tool (SMART), for which the company would be paid about $21 million.

As Janison said in a statement to the ASX:

This assignment is a major national initiative, supporting twice-yearly assessments for students in Years 3 to 10 across reading, writing, maths, pānui, tuhituhi and pāngarau. SMART will play a central role in New Zealand’s assessment … reporting and monitoring activity, delivering a bilingual approach to understanding student learning progress across Aotearoa. Work on the assignment commenced via a bridging contract in July 2025 and will continue under the newly executed five-year agreement. The world-class bilingual SMART will be delivered using Janison’s secure and scalable online assessment platform, providing a long-term digital foundation for national assessment in New Zealand.

The $21 million would be the minimum contract revenues over the period, the company said, with year one revenue estimated at $3 million.

Validation of company’s technology

Janison Chief Executive Officer Sujata Stead said that it was a great milestone for the company.

This agreement represents one of Janison’s most significant international wins, demonstrating the relevance and scalability of our solutions beyond Australia. We’re proud Janison has been selected to partner with the New Zealand Ministry of Education on such an important national initiative, and we look forward to supporting the Ministry in delivering a secure, scalable and culturally responsive assessment experience for learners across Aotearoa.

Janison shares were trading 16.7% higher on Thursday morning at 28 cents – a new 12-month high for the shares.

The share price has more than doubled from lows over the past 12 months of 13.7 cents.

In November, the company also announced a three-year contract, which was worth $719,000, with the Victorian Building and Plumbing Commission to deliver a digital assessment platform for building and plumbing accreditation applicants.

The company said that while the contract win was not material to the company, it validated its product suite for use in high-stakes testing.

Janison in August reported full-year revenue for FY25 of $47 million, up 9% over the previous corresponding period, and a net loss of $11.3 million, up from a loss of $8.1 million the previous year.

Janison was valued at $62.4 million at the close of trade on Wednesday.  

The post Shares in this small-cap education company have hit a fresh 12-month high on a lucrative contract win appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Janison Education Group. 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.

Treasury Wine Estates Ltd (ASX: TWE) shares are falling again on Thursday.

At the time of writing, the wine giant’s shares are down 6% to $4.68.

This means they are now down 58% since the start of the year.

Is this a buying opportunity for investors? Let’s see what analysts at Macquarie Group Ltd (ASX: MQG) are saying about this fallen giant.

What is the broker saying about Treasury Wine shares?

Like everyone, Macquarie was disappointed with Treasury Wine’s update this week.

It notes that its guidance implies a sharp decline in earnings for the first half of FY 2026. It said:

At the result in Aug-25, TWE guided to EBITS growth in FY26E, driven by low-to-mid-teens growth in Penfolds. In Oct-25, guidance was withdrawn, citing the uncertain outlook for Penfolds and Treasury Americas. The midpoint of 1H26E guidance provided today implies a ~40% decline vs. pcp. The ongoing lowering of earnings forecasts in a short period of time suggests the lack of earnings visibility for the group. Positively, the new CEO has taken a more conservative view with respect to right-sizing inventory in the key China and US markets.

But it certainly isn’t game over for Treasury Wine. Macquarie believes there is still inherent value in the key Penfolds brand and thinks that the company’s decision to right-size its inventory is a smart move. It adds:

We agree with management there is inherent value in the Penfolds brand, particularly in the luxury/ultraluxury tiers. Maintaining this luxury status as distributors right-size inventories and discount to reduce stock will see the business in a stronger position long-term, contingent on managing concerns noted above.

Should you buy Treasury Wine shares?

Macquarie isn’t in a rush to buy the company’s shares just yet despite their heavy decline.

According to the note, the broker has retained its neutral rating on them with a reduced price target of $5.00.

This implies potential upside of approximately 7% for investors from current levels.

Commenting on its recommendation, Macquarie said:

Retain Neutral. Management’s focus on right-sizing inventories to more closely reflect demand while also seeking to reduce leverage are critical, albeit from a challenging startpoint. Risks will remain elevated in the near term, however there is opportunity on execution.

Valuation: TP reduces ~22% to $5.00 consistent with cashflow changes. Catalysts: Wine Australia export data (monthly); Chinese consumption trends and Government policy; Industry commentary on depletions in China and the US.

The post Does Macquarie rate Treasury Wine shares a buy the dip opportunity? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Macquarie Group and Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

These ASX shares are on investor radars for all the wrong reasons this week. And for that reason, I’m steering clear.

Australia and New Zealand Banking Group (ASX: ANZ)

ANZ shares have stormed higher over the past 12 months, but I don’t think there is any more room for the shares to run. The team at Macquarie have also flagged that the banking giant is showing early signs of revenue underperformance. It’s enough for me to stay clear right now.

ANZ shares are 0.15% higher at $36.16 at the time of writing on Thursday morning.

CSL Ltd (ASX: CSL)

CSL shares have tumbled another 6% this week as investor sentiment continues to slide. On Monday, the team at Macquarie downgraded the company’s shares to a neutral rating (from buy) and said the company is now out of its growth stage. The broker also heavily reduced its price target on the shares to $188, down from $275.20 previously. 

The ASX shares are trading at $173.20 a piece at the time of writing.

Treasury Wine Estates Ltd (ASX: TWE) 

The wine giant’s shares crashed 9.29% on Wednesday after the company released an investor update and outlook for the first half of FY26. It said that trading conditions have weakened in recent months, particularly in the US and China. This means near-term improvement is unlikely. 

Macquarie analysts lowered their target price on Treasury Wine Estates shares to $5 (down from $6.40) this morning. More analyst updates on the stock are likely to come in over the next few days. I’m quietly optimistic that the latest result is mostly priced in by the market already, but I’d sit tight on the shares until the dust has settled.

At the time of writing on Thursday morning, the ASX wine giant’s shares have dropped another 4.22% to $4.77 a piece.

Commonwealth Bank of Australia (ASX: CBA)

It’s no secret that I’m keeping well clear of CBA shares right now. I still think the bank stock’s premium share price is far too expensive, and could correct sharply from here. Discussions about tighter monetary policy and the return of rate-hike talk will continue to put pressure on the banking giant’s shares, too.

At the time of writing, the ASX banking giant’s shares are 0.25% lower for the day at $153.48 a piece.

Lendlease Group (ASX: LLC)

Lendlease shares have faced several headwinds this year, and according to DP Wealth Advisory’s Andrew Wielandt, the company could continue to struggle in the near term. He explained that the company has reduced debt and risk by divesting overseas projects and operations, but is concerned that this may lead to fewer development opportunities because it has less capital to recycle.

At the time of writing on Thursday morning, Lendlease shares are trading at $4.95 a piece, unchanged for the day so far.

The post 5 ASX shares I’m avoiding this week appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Macquarie Group, and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Macquarie Group and Treasury Wine Estates. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Boss Energy Ltd (ASX: BOE) shares are back from their trading half and crashing deep into the red.

In morning trade, the uranium producer’s shares are down 22% to a multi-year low of $1.22.

Why are Boss Energy shares crashing 22%?

Investors have been rushing to the exits today after the company released its eagerly anticipated Honeymoon project review.

Short sellers have been loading up on Boss Energy’s shares this year on the belief that this review would disappoint. And it seems that they were spot on.

According to the release, the Honeymoon review has indicated an expected material and significant deviation from the assumptions underpinning its 2021 Enhanced Feasibility Study (EFS).

This deviation is expected to impact life of mine production and costs from FY 2027 onwards, primarily due to less continuity of higher-grade mineralisation, mineralisation not overlapping, less leachability, and smaller wellfields.

In light of this, the company has now formally withdrawn the EFS and confirms that it should no longer be relied upon as a guide to future operational performance.

What now?

One small positive is that Boss Energy has identified a potential pathway forward based on its updated understanding of the resource, deposit characteristics, and an alternative wide-space wellfield design that could be suitable to Honeymoon.

The company has initiated a series of accelerated work programs to assess the potential economic benefits of the wide-spaced wellfield design.

An initial update will be provided in first quarter of 2026, with completion of a scoping study targeted for the second quarter and completion of a new feasibility study in the third quarter.

Management believes that a wide-spaced wellfield design could potentially deliver lower costs and improved lixiviant grades compared to the current wellfield design. This is by increasing leaching time, lowering reagent use, and utilising wellfield infrastructure over a larger surface area and more uranium under leach.

With $212 million of cash and liquid assets (as of 30 September 2025), it believes it is positioned to self-fund the key work programs associated with the new feasibility study, a potential change to wellfield design, and the potential early development of Gould’s Dam and Jason’s Deposit.

Boss Energy’s managing director, Matthew Dusci, said:

Although Boss acknowledges this disappointing outcome, the Honeymoon Review and delineation drilling programs have enabled the identification of a potential pathway forward through a new wide-spaced wellfield design. While additional work is necessary to finalise a New Feasibility Study, this development presents an opportunity for Boss to potentially lower operating costs, optimise production profiles, and extend mine life compared to the current wellfield design.

We acknowledge there is a significant amount of work required for Boss to restore shareholder value. The team is committed to delivering on this important measure through optimising what we see as a robust uranium production asset, if a new wide-spaced wellfield design can be successfully implemented.

The post Boss Energy shares crash 22% on devastating news appeared first on The Motley Fool Australia.

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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 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.

Shares in BetMakers Technology Group Ltd (ASX: BET) were trading higher on Thursday after the company announced a multi-year agreement with global gambling operator Stake.

Under the agreement, BetMakers will deliver its RaceOdds+ solution to Stake to drive that company’s global horse racing expansion, BetMakers said in a statement to the ASX.

The agreement is for an initial three-year period with a two-year extension option.

Full tech suite provided

The company said other details included Stake gaining access to “BetMakers’ full pricing and trading capability, global racing content, the BetStream racing vision player, and the Racelab suite of products – Insights, Live, Stories and Informatics”.

BetMakers added:

Additionally, the agreement will see BetMakers’ proprietary Global Tote Hub provide tote pool access to stake.com customers, allowing them to wager on a global wagering menu of bet types from the world’s premier racecourses – highlighting a unique feature of BetMakers’ RaceOdds+ product offering.

BetMakers said the contract terms included a combination of fixed and variable revenue, with the contract to go live in the second half of the financial year.

BetMakers Chief Executive Officer Jake Henson said the company was thrilled to team up with Stake.

They are one of the fastest growing wagering platforms globally, with a reputation for speed and innovation. Securing this agreement is a strong validation of the depth and quality of our RaceOdds+ product and the broader BetMakers global racing strategy. We are excited and confident that providing stake.com with our full suite of racing technologies, including pricing and trading, rightsholder content, global tote access, streaming and the Racelab portfolio, will enable them to deliver a world-class racing experience to their modern customer base.

The news follows BetMakers striking a major deal with CrownBet earlier this month. BetMakers shares were trading 5.7% higher at 18.5 cents early on Thursday.

The company was valued at $195.7 million at the close of trade on Wednesday.

Bad news for competitor

But while the news was positive for BetMakers, it came at a cost to fellow listed operator RAS Technology Holdings Ltd (ASX: RTH), which was previously providing its Complete Racing Solution to Stake.

RTH said its contract with Stake would not be renewed when the contract finished in May next year.

The company went on to say:

The non-renewal is not expected to have a material impact on RAS’s financial performance in FY26. The Company maintains a strong pipeline of opportunities for FY27, including the recently announced deal to provide a complete racing solution to the LeoVegas Group, and remains confident in its growth trajectory.

RTH shares were 11.9% lower at 85 cents in early trade.

The post Gaming tech company’s tie up with global operator Stake sends shares higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Ras Technology. 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.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is in focus today after the bank received a $50 million operational risk capital charge from APRA and revealed it is subject to an AUSTRAC enforcement investigation into AML/CTF compliance.

What did Bendigo and Adelaide Bank report?

• Received a $50 million operational risk capital charge from APRA effective 1 January 2026
• The capital charge is expected to lower the Level 2 Common Equity Tier 1 (CET1) ratio by about 17 basis points
• CET1 ratio was 11.19% as at 30 November 2025, still above the board’s target
• AUSTRAC has begun an enforcement investigation relating to serious potential contraventions of AML/CTF laws
• The bank continues to uplift its approach to non-financial risk management

What else do investors need to know?

APRA’s decision means Bendigo and Adelaide Bank must hold extra capital against operational risk, but its CET1 ratio remains above both board targets and regulatory minimums for ‘unquestionably strong’ banks.

On the regulatory front, AUSTRAC has not yet decided whether it will take enforcement action following its investigation, leaving some future uncertainty for shareholders. The bank has committed to ongoing engagement with the regulator and ramping up risk management efforts.

Cost estimates for potential remediation or additional compliance are not yet available, with the bank saying further updates will be provided when they are determined.

What did Bendigo and Adelaide Bank management say?

Bendigo Bank CEO and Managing Director Richard Fennell said:

Bendigo Bank has taken a number of steps to improve its risk capability and strengthen its risk culture over the last 12 months however I recognise the need to intensify our focus and our efforts.

What’s next for Bendigo and Adelaide Bank?

The board and executive team are prioritising a broader uplift in non-financial risk maturity, particularly in response to regulators’ feedback and evolving expectations around compliance. The bank says it will provide investors with cost estimates and more information on remediation plans as details are finalised.

In the near term, the bank is focused on constructive engagement with AUSTRAC, strengthening frameworks, and maintaining capital strength. Investors will be watching for more guidance as further regulatory outcomes emerge.

Bendigo and Adelaide Bank share price snapshot

Over the past 12 months, Bendigo and Adelaide Bank shares have declined 24%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Bendigo and Adelaide Bank hit with APRA capital charge, faces AUSTRAC probe appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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 positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Woodside Energy Group Ltd (ASX: WDS) shares are under pressure on Thursday.

In morning trade, the energy giant’s shares are down over 2% to $22.86.

Woodside shares fall on CEO exit

Investors have been selling the company’s shares today after it announced the shock exit of its CEO.

According to the release, Woodside’s CEO, Meg O’Neill, has resigned after accepting the role of CEO of BP Plc (LSE: BP).

The board has appointed Liz Westcott as acting CEO, effective today. The company notes that Westcott is a widely respected senior executive with deep global operational leadership.

Ms Westcott has led Woodside’s Australian Operations as executive vice president and chief operating officer Australia since joining Woodside in June 2023.

She was previously chief operating officer at Energy Australia, following a 25-year career at ExxonMobil working in Australia, the United Kingdom and Italy.

Woodside highlights that her career has spanned roles in strategic planning, operations, project management, and safety, technical and commercial leadership.

Speaking about the exit of Ms O’Neill, Woodside’s chair, Richard Goyder, congratulated her on her appointment as BP CEO. He said:

The Board’s appointment of Meg as CEO in 2021 set the foundation for Woodside’s transformational growth over recent years. This strong business performance has been translated into approximately $11 billion in dividends paid to shareholders since 2022, and a growth trajectory which is expected to deliver significant value.

Meg leaves Woodside in a strong position, having led the company through the merger with BHP Petroleum, final investment decision on the Scarborough Energy Project, startup of the Sangomar Project, final investment decision for the Louisiana LNG Project, the Beaumont New Ammonia acquisition, introduction of a number of high quality partners in those projects and continued high performance across Woodside’s global operations portfolio.

Goyder was pleased with the appointment of Westcott as acting CEO and believes Woodside is in safe hands. He adds:

Liz’s appointment as Acting CEO provides strong continuity for our business and its people. She will lead and work with Woodside’s highly capable Executive Leadership Team to continue to execute against Woodside’s strategy to deliver shareholder value through disciplined decision-making and operational excellence.

The Board’s ongoing focus on CEO succession planning means Woodside is fortunate to have a number of highly qualified internal candidates as we also assess external talent options to ensure the best possible CEO appointment. We are well positioned to conclude this process efficiently with the intention of announcing a permanent appointment in the first quarter of 2026.

Following today’s move, Woodside shares are down 8% since the start of the year.

The post Woodside shares tumble on shock CEO exit appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended BP. 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.