Woodside Energy Group (NYSE:WDS) Shares Gap Down - Time to Sell?

Key Points

• Woodside Energy Group shares fell 3.6%, gapping down from a previous close of $23.82 to open at $22.72 before recovering partially to about $23.42.
• Analysts remain cautious: four firms rate the stock “Hold”, with a consensus price target of $23.21—roughly in line with the reported trading price.
• The company maintains relatively moderate leverage, with a debt-to-equity ratio of 0.28, while institutional investors own a limited 3.17% stake and several funds increased their positions during the second quarter.

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WDS shares. Needham & Company LLC began coverage on Woodside Energy Group in a report on Tuesday, August 11th. They issued a "neutral" rating and a $23.21 price target for the company. Bank of America began coverage on shares of Woodside Energy Group in a report on Tuesday, August 11th. They set a "neutral" rating and a $23.21 price objective on the stock. Zacks Research upgraded shares of Woodside Energy Group to a "hold" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Woodside Energy Group in a report 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 Stock Down 3.6%

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

Institutional Investors Weigh In On Woodside Energy Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDS. TD Waterhouse Canada Inc. grew its position in shares of Woodside Energy Group by 87.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,394 shares of the company's stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Benjamin Edwards Inc. raised its position in Woodside Energy Group by 6.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 92,952 shares of the company's stock valued at $1,796,000 after purchasing an additional 5,291 shares during the last quarter. GTS Securities LLC purchased a new stake in Woodside Energy Group in the 2nd quarter valued at $903,000. Corient Private Wealth LP boosted its stake in Woodside Energy Group by 9.9% during the 2nd quarter. Corient Private Wealth LP now owns 47,372 shares of the company's stock worth $915,000 after purchasing an additional 4,277 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Woodside Energy Group by 16.7% during the 2nd quarter. Jones Financial Companies Lllp now owns 35,995 shares of the company's stock worth $682,000 after purchasing an additional 5,164 shares during the period. Hedge funds and other institutional investors 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.

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