Woodside Petroleum's 4Q sales and 2022 guidance came in ahead of Morgans expectations. After allowing for this result and inputting the broker's higher forecast oil price, the target price rises to $30.55 from $29.95. Outperform.

The analyst now assumes a 50% payout (was 80%) though this is now applied to increased earnings and will result in a similar sized final dividend of US$0.638ps.

Sector: Energy.

Target price is $30.55.Current Price is $25.81. Difference: $4.74 - (brackets indicate current price is over target). If WPL meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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