* Woodside Petroleum drags energy stocks lower
* Westpac hits one-year high
* CSL has best day in two months (Updates to close)
By Harish Sridharan
Feb 18 (Reuters) - Australian shares ended a volatile session flat, with lacklustre annual results from Woodside Petroleum dragging energy stocks lower, while Treasury Wine notched its best day in five years after the company unveiled plans to overhaul its business.
The S&P/ASX 200 index .AXJO ended flat at 6,885.9 points on Thursday. The benchmark closed 0.5% lower on Wednesday.
"It (the market) is directionless right now," said Brad Smoling, managing director at Smoling Stockbroking.
"We don't have any sort of negative or positive lead to follow and no one wants to take a position in a big way until we see some sort of marcoeconomic change, or have a disaster in reporting, which we haven't had yet."
Energy stocks .AXEJ shed 1.5%, with Woodside WPL.AX slumping 2.4% after its annual profit more than halved.
of fuel supplier Viva Energy VEA.AX fell 2.5% and power company Origin Energy ORG.AX dropped 2.2% after its first-half profit was nearly wiped out. Wine Estates TWE.AX , which extended gains to a second session, climbed 17.5% to mark its best day in more than five years after the world's largest listed winemaker said on Wednesday that it would reorganise into three internal divisions and likely sell low-priority brands and other assets. stocks .AXHJ hit their highest in nearly two months, helped by sector heavyweight CSL CSL.AX , which advanced 2.8% after a jump in half-year profit. .AXFJ gained 0.3%, as Australia and New Zealand Banking Group ANZ.AX reported a higher first-quarter profit and said it was well-positioned for the rest of the year. Westpac WBC.AX gained 3.5% to hit its highest in nearly a year.
Miners .AXMM closed 0.2% weaker, with BHP Ltd BHP.AX ending in negative territory.
New Zealand's benchmark S&P/NZX 50 index .NZ50 closed 0.32% lower to finish at 12,633.6 points.
Six of the nine major sectors on the bourse closed in the red, with Air New Zealand AIR.NZ being the top loser in the index.