Woodside Energy Group (NYSE:WDS) Shares Gap Down - What's Next?

Key Points

• Woodside Energy shares opened sharply lower, falling from a previous close of $23.72 to $22.76 and last trading near $22.62.
• Analysts maintain a broadly neutral outlook: four firms rate the stock “Hold,” with a consensus price target of $23.21.
• Woodside declared a $0.57-per-share dividend payable September 25 to shareholders of record September 4; institutional investors own approximately 3.17% of the stock.

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $23.72, but opened at $22.76. Woodside Energy Group shares last traded at $22.6210, with a volume of 30,381 shares trading hands.

Analyst Upgrades and Downgrades

WDS has been the subject of several research analyst reports. Needham & Company LLC assumed coverage on Woodside Energy Group in a report on Tuesday, August 11th. They issued a "neutral" rating and a $23.21 price objective for the company. Bank of America started coverage on shares of Woodside Energy Group in a research report on Tuesday, August 11th. They set a "neutral" rating and a $23.21 price target for the company. Zacks Research raised shares of Woodside Energy Group to a "hold" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Woodside Energy Group in a report on Monday, June 8th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $23.21.

Woodside Energy Group Stock Performance

The firm has a 50 day moving average of $22.06 and a 200-day moving average of $22.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.28 and a current ratio of 1.39.

Woodside Energy Group Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.57 per share. This represents a dividend yield of 500.0%. The ex-dividend date is Friday, September 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted 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 purchasing an additional 650 shares during the last quarter. Arax Advisory Partners lifted its holdings in Woodside Energy Group by 257.0% during the fourth quarter. Arax Advisory Partners now owns 1,660 shares of the company's stock worth $26,000 after buying an additional 1,195 shares during the period. EFG International AG bought a new stake in Woodside Energy Group during the fourth quarter valued at about $32,000. Geneos Wealth Management Inc. grew its position in shares of Woodside Energy Group by 111.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,092 shares of the company's stock worth $30,000 after buying an additional 1,102 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Woodside Energy Group in the 4th quarter worth $35,000. 3.17% of the stock is owned by hedge funds and other institutional investors.

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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