Woodside's weak growth pipeline highlights stock's overvaluation

Woodside's weak growth pipeline highlights stock's overvaluation. Woodside recently exited the Leviathan joint venture, which demonstrated the company's commitment to not overpaying for deals but also its lack of near-term growth options. The resulting high dividend payout ratio retards intrinsic value growth. WPL is exploring for new resources but the timeline from exploration to production is very long. Global liquefied natural gas demand is growing but so is supply, risking long-term price pressure for WPL's output. For David Walker's full article (VIEW LINK)