Cedar Wealth Management LLC Invests $376,000 in Woodside Energy Group Ltd (NYSE:WDS)

Key Points

• Cedar Wealth Management LLC has purchased a new stake in Woodside Energy Group Ltd, acquiring 25,923 shares valued at approximately $376,000.
• Woodside Energy Group's stock is currently trading at $16.86, with a 1-year price range between $11.26 and $18.44.
• Analysts have mixed ratings on the stock, with one showing a "strong-buy" rating and several others rating it as a hold, indicating a consensus rating of "Hold."

Cedar Wealth Management LLC purchased a new position in Woodside Energy Group Ltd (NYSE:WDS - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,923 shares of the company's stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also modified their holdings of WDS. Northern Trust Corp boosted its holdings in Woodside Energy Group by 713.0% during the fourth quarter. Northern Trust Corp now owns 1,089,286 shares of the company's stock worth $16,993,000 after buying an additional 955,303 shares during the last quarter. Marshall Wace LLP acquired a new stake in Woodside Energy Group during the 4th quarter worth about $7,809,000. Raymond James Financial Inc. acquired a new position in Woodside Energy Group during the 4th quarter worth approximately $6,554,000. Voloridge Investment Management LLC purchased a new stake in shares of Woodside Energy Group in the fourth quarter valued at about $5,388,000. Finally, First Trust Advisors LP raised its stake in shares of Woodside Energy Group by 28.9% in the fourth quarter. First Trust Advisors LP now owns 702,363 shares of the company's stock valued at $10,957,000 after buying an additional 157,618 shares during the period. Institutional investors and hedge funds own 3.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, CLSA upgraded Woodside Energy Group to a "strong-buy" rating in a research note on Tuesday, June 24th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Woodside Energy Group currently has a consensus rating of "Hold".

Woodside Energy Group Trading Up 0.8%

WDS stock traded up $0.14 during midday trading on Thursday, hitting $17.43. 167,333 shares of the company's stock were exchanged, compared to its average volume of 919,029. The business has a 50-day simple moving average of $15.89 and a two-hundred day simple moving average of $14.77. The stock has a market capitalization of $33.09 billion, a PE ratio of 21.25 and a beta of 0.67. Woodside Energy Group Ltd has a 1-year low of $11.26 and a 1-year high of $18.44. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

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.