Woodside Energy Group (NYSE:WDS) Shares Gap Down – What’s Next?

Woodside Energy Group Ltd (NYSE:WDS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $23.82, but opened at $22.72. Woodside Energy Group shares last traded at $23.4180, with a volume of 77,070 shares.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WDS shares. Bank of America initiated coverage on Woodside Energy Group in a research report on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 price target on the stock. Needham & Company LLC started coverage on 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. Zacks Research raised Woodside Energy Group to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Woodside Energy Group in a research note on Monday, June 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.21.

Woodside Energy Group Trading Down 3.6%

The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average price is $21.51 and its 200-day moving average price is $21.86.

Hedge Funds Weigh In On Woodside Energy Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in Woodside Energy Group by 32.3% during the fourth quarter. Morgan Stanley now owns 4,539,156 shares of the company’s stock worth $70,765,000 after acquiring an additional 1,108,540 shares during the period. UBS Group AG raised its position in Woodside Energy Group by 381.1% in the fourth quarter. UBS Group AG now owns 1,222,912 shares of the company’s stock worth $19,065,000 after acquiring an additional 968,707 shares in the last quarter. Millennium Management LLC lifted its holdings in Woodside Energy Group by 3,532.4% in the fourth quarter. Millennium Management LLC now owns 735,455 shares of the company’s stock valued at $11,466,000 after acquiring an additional 715,208 shares during the period. Bank of Montreal Can purchased a new stake in shares of Woodside Energy Group during the 4th quarter worth $7,301,000. Finally, Jane Street Group LLC boosted its position in shares of Woodside Energy Group by 192.8% during the 4th quarter. Jane Street Group LLC now owns 638,474 shares of the company’s stock worth $9,954,000 after purchasing an additional 420,412 shares in the last quarter. Institutional investors and hedge funds own 3.17% of the company’s stock.

About Woodside Energy Group

Woodside Energy Group (NYSE: WDS) is an Australia-based energy company focused on the exploration, development, production and marketing of oil and natural gas, with a strong emphasis on liquefied natural gas (LNG). The company’s activities span the upstream value chain, including exploration and appraisal of hydrocarbon resources, development and operation of production facilities, and the sale and delivery of hydrocarbons to global customers.

Woodside’s operations center on conventional oil and gas projects and large-scale LNG processing and export, supported by project management, engineering and commercial trading capabilities.