Woodside Energy Group (NYSE:WDS) Shares Gap Up – Should You Buy?

Woodside Energy Group Ltd (NYSE:WDS) gapped up prior to trading on Thursday. The stock had previously closed at $21.77, but opened at $22.58. Woodside Energy Group shares last traded at $22.5890, with a volume of 40,669 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Woodside Energy Group to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Woodside Energy Group in a report on Friday, September 4th. Needham & Company LLC assumed coverage on shares of Woodside Energy Group in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 target price on the stock. Finally, Bank of America began coverage on Woodside Energy Group in a report on Tuesday, August 11th. They set a “neutral” rating and a $23.21 target price on the stock. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, Woodside Energy Group currently has an average rating of “Hold” and a consensus target price of $23.21.

Woodside Energy Group Stock Performance

The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $22.95 and a 200 day moving average price of $22.42.

Woodside Energy Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a dividend of $0.57 per share. This represents a yield of 500.0%. The ex-dividend date was Friday, September 4th.

Hedge Funds Weigh In On Woodside Energy Group

A number of institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Woodside Energy Group by 25.8% during the 1st quarter. First Trust Advisors LP now owns 1,119,202 shares of the company’s stock worth $26,727,000 after purchasing an additional 229,625 shares during the period. XY Capital Ltd purchased a new stake in Woodside Energy Group in the 2nd quarter valued at about $3,439,000. Envestnet Asset Management Inc. raised its holdings in Woodside Energy Group by 67.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 415,076 shares of the company’s stock valued at $8,019,000 after buying an additional 166,495 shares during the period. Quantinno Capital Management LP lifted its position in Woodside Energy Group by 20.6% in the first quarter. Quantinno Capital Management LP now owns 613,278 shares of the company’s stock valued at $14,645,000 after buying an additional 104,720 shares during the last quarter. Finally, McAlvany Wealth Management LLC purchased a new position in Woodside Energy Group during the fourth quarter worth about $1,480,000. 3.17% of the stock is owned by hedge funds and other institutional investors.

About Woodside Energy Group

Woodside Energy Group Ltd. is an Australian energy company engaged in the exploration, development, production and marketing of oil and natural gas. Its products include liquefied natural gas (LNG), pipeline gas, condensate, crude oil and liquefied petroleum gas, which it supplies to customers in Australia and international markets.

The company operates a portfolio of upstream assets and LNG projects, including the Pluto LNG and North West Shelf operations in Western Australia. Its international interests include the Sangomar oil and gas project offshore Senegal and the Wheatstone LNG project in the United States.