10 Best Australian Stocks to Buy According to Billionaires

3. Woodside Energy Group Ltd (NYSE:WDS)

Number of Hedge Fund Holders: 10

Number of Billionaire Investors: 4 

Total Value of Billionaire Holdings: $16.0 million

Woodside Energy Group Ltd (NYSE:WDS) is a global energy company based in Australia. It produces and sells energy. The operations of the company are divided into three main areas including the Australian segment, the International segment, and Marketing. On February 26, Morgans’ analyst Adrian Prendergast maintained a Buy rating on the stock with a price target of A$30.25.

In fiscal 2024, the company achieved a record production of 193.9 million barrels of oil equivalent (MMboe) for 2024, which translates to 530 Mboe/day. This was supported by strong performance from the Sangomar project and high reliability (98%) from their LNG assets. Moreover, the company’s Net Profit After Tax increased by 115% year-on-year, reaching $3,573 million.

Woodside Energy Group Ltd (NYSE:WDS) reported that its Sangomar project ramped up to full capacity within nine weeks of its startup in June 2024 and achieved 94% reliability in the fourth quarter. The project contributed 12.9 million boe in sales, generating approximately $950 million in revenue. It is one of the best Australian stocks to buy according to billionaires.