Woodside Energy Group (NYSE:WDS) Shares Gap Up - Time to Buy?

Key Points

• Woodside Energy shares opened higher, rising from a previous close of $21.77 to $22.58, with last trading around $22.59.
• Analysts maintain a generally cautious view: four analysts rate the stock “Hold,” with an average price target of $23.21.
• The company reported solid liquidity and modest leverage, while institutional ownership stands at 3.17%; it also recently paid a $0.57-per-share dividend.

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report)'s stock price gapped up prior to trading on Thursday. The stock had previously closed at $21.77, but opened at $22.58. Woodside Energy Group shares last traded at $22.5890, with a volume of 40,669 shares traded.

Wall Street Analyst Weigh In

WDS has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Woodside Energy Group in a research report on Friday, September 4th. Bank of America assumed coverage on shares of Woodside Energy Group in a report on Tuesday, August 11th. They issued 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, Needham & Company LLC started coverage on shares of Woodside Energy Group in a report on Tuesday, August 11th. They set a "neutral" rating and a $23.21 target price for the company. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Woodside Energy Group presently has an average rating of "Hold" and an average price target of $23.21.

Woodside Energy Group Price Performance

The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $22.43.

Woodside Energy Group Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.57 per share. The ex-dividend date was Friday, September 4th. This represents a dividend yield of 500.0%.

Institutional Investors Weigh In On Woodside Energy Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its position in shares of Woodside Energy Group by 87.4% in 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 period. Manchester Capital Management LLC increased its stake in shares of Woodside Energy Group by 2,616.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,450 shares of the company's stock worth $54,000 after purchasing an additional 3,323 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Woodside Energy Group by 17.5% during the 1st quarter. Fifth Third Bancorp now owns 3,460 shares of the company's stock valued at $83,000 after purchasing an additional 515 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Woodside Energy Group by 20.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,930 shares of the company's stock valued at $61,000 after purchasing an additional 657 shares during the period. Finally, Eastern Bank purchased a new position in shares of Woodside Energy Group during the 2nd quarter valued at $77,000. 3.17% of the stock is owned by hedge funds and other institutional investors.

About Woodside Energy Group

Woodside Energy Group Ltd. is an Australian energy company engaged in the exploration, development, production and marketing of oil and natural gas. Its products include liquefied natural gas (LNG), pipeline gas, condensate, crude oil and liquefied petroleum gas, which it supplies to customers in Australia and international markets.

The company operates a portfolio of upstream assets and LNG projects, including the Pluto LNG and North West Shelf operations in Western Australia. Its international interests include the Sangomar oil and gas project offshore Senegal and the Wheatstone LNG project in the United States.

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