Entropy Technologies LP Purchases Shares of 18,771 Woodside Energy Group Ltd $WDS

Key Points

• Entropy Technologies LP has taken a new position in Woodside Energy Group Ltd, acquiring 18,771 shares valued at approximately $272,000 in the first quarter.
• Other hedge funds have significantly increased their investments in Woodside, with Northern Trust Corp boosting its stake by 713% in the fourth quarter.
• Woodside Energy Group shares have received an average rating of "Moderate Buy" from analysts, with CLSA recently raising the stock to a "strong-buy" rating.

Entropy Technologies LP acquired a new stake in Woodside Energy Group Ltd (NYSE:WDS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,771 shares of the company's stock, valued at approximately $272,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mission Wealth Management LP increased its holdings in Woodside Energy Group by 8.9% during the 1st quarter. Mission Wealth Management LP now owns 12,692 shares of the company's stock valued at $184,000 after acquiring an additional 1,042 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Woodside Energy Group by 10.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 12,164 shares of the company's stock valued at $176,000 after acquiring an additional 1,119 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Woodside Energy Group by 10.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,434 shares of the company's stock valued at $194,000 after acquiring an additional 1,155 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Woodside Energy Group by 4.0% during the 4th quarter. JPMorgan Chase & Co. now owns 36,997 shares of the company's stock valued at $577,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Greenline Partners LLC purchased a new position in Woodside Energy Group during the 4th quarter valued at about $30,000. 3.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, CLSA upgraded shares of Woodside Energy Group to a "strong-buy" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Woodside Energy Group Price Performance

WDS stock traded down $0.6470 during trading on Tuesday, hitting $16.7530. The stock had a trading volume of 652,341 shares, compared to its average volume of 904,874. The company's 50 day moving average price is $16.40 and its two-hundred day moving average price is $14.89. Woodside Energy Group Ltd has a 1-year low of $11.26 and a 1-year high of $18.44. The stock has a market cap of $31.81 billion, a price-to-earnings ratio of 20.44 and a beta of 0.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.29.

Woodside Energy Group Profile

Woodside Energy Group Ltd engages in the exploration, evaluation, development, production, and marketing of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe. The company produces liquefied natural gas, pipeline gas, crude oil and condensate, and natural gas liquids. It holds interests in the Pluto LNG, North West Shelf, Wheatstone and Julimar-Brunello, Bass Strait, Ngujima-Yin FPSO, Okha FPSO, Pyrenees FPSO, Macedon, Shenzi, Mad dog, Greater Angostura, as well as Scarborough, Sangomar, Trion, Calypso, Browse, Liard, Atlantis, Woodside Solar opportunity, and Sunrise and Troubadour.