gave Woodside Energy Group Ltd (ASX: WDS) share price is set to be a solid performer in the short to medium term. At the time of writing, that’s up 12% over the past month and 25% over the past year.
ASX oil and gas shares have benefited from higher energy prices over the past few months. This is likely to increase its revenue and cash flow significantly as the company’s cost of production does not change much, while revenue is expected to increase significantly. It can earn more revenue for the same volume.
Woodside will issue its quarterly update on July 29, 2026 for the three months from June 30, 2026.
With the US-Iran conflict continuing – and energy flows from the Middle East affected – is this a good time to invest in Woodside’s share price, or is this as good as it gets?
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What could happen next with the Woodside share price?
Analysts can tell investors what they think about a company’s prospects with a share price target. It tells investors where they think the share price will go over the next 12 months. Therefore, according to these analysts, a share price target can mean whether a business is undervalued (or overvalued).
According to CMC Invest, the business has received 9 analyst ratings on ASX oil and gas shares over the past three months. Of these nine expert calls, three had a buy rating, five had a hold rating and one had a sell rating.
Perhaps unsurprisingly, these 10 analysts have a price target for Woodside shares of $31.23, which is roughly flat compared to where it’s currently trading (at the time of writing). It may see a small digit decrease in percentage terms.
But, according to CMC Invest, there are also views that are both overly optimistic and pessimistic.
The highly positive analyst outlook has a price target of $36.50, suggesting a potential upside of 15% over the next 12 months at the time of writing.
Meanwhile, analysts’ most negative outlook for the business, at the time of writing, suggests a potential decline of 22% over the next 12 months.
Woodside’s short-term success may depend on what happens with energy flows from the Middle East (and Russia). In the long term, increased energy demand (from data centers and AI) could play a key role in Woodside’s success. It is also working on increasing production across its global portfolio of projects.
According to Commsec’s projection, Woodside is now valued at less than 9x estimated FY27 earnings.
