Woodside Energy Group (NYSE:WDS) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Woodside Energy Group shares rose above their 50-day moving average, trading as high as $23.19 versus the $23.04 average, and last changing hands at $23.16.
• Analyst sentiment is moderately positive: Zacks Research upgraded the stock to “strong buy,” while three other analysts maintained “hold” ratings. The consensus price target is $23.21.
• The company recently paid a $0.57-per-share dividend, while institutional investors and hedge funds collectively own 3.17% of Woodside’s shares.

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $23.04 and traded as high as $23.19. Woodside Energy Group shares last traded at $23.16, with a volume of 328,767 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research raised Woodside Energy Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 9th. Needham & Company LLC assumed coverage on Woodside Energy Group in a report on Tuesday, August 11th. They set a "neutral" rating and a $23.21 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Woodside Energy Group in a research report on Friday, September 4th. Finally, Bank of America started coverage on Woodside Energy Group in a research note on Tuesday, August 11th. They issued a "neutral" rating and a $23.21 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Woodside Energy Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.21.

Woodside Energy Group Stock Up 1.4%

The firm's fifty day moving average is $23.04 and its 200 day moving average is $21.73. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.25.

Woodside Energy Group Dividend Announcement

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

Hedge Funds Weigh In On Woodside Energy Group

A number of hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. boosted its position in Woodside Energy Group by 87.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,394 shares of the company's stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. James T. Borello RIA grew its stake in Woodside Energy Group by 77.7% in the third quarter. James T. Borello RIA now owns 1,441 shares of the company's stock valued at $32,000 after purchasing an additional 630 shares in the last quarter. Fifth Third Bancorp grew its stake in Woodside Energy Group by 17.5% in the first quarter. Fifth Third Bancorp now owns 3,460 shares of the company's stock valued at $83,000 after purchasing an additional 515 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Woodside Energy Group by 20.1% in the fourth 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 in the last quarter. Finally, Eastern Bank acquired a new position in Woodside Energy Group in the 2nd quarter worth about $77,000. 3.17% of the stock is owned by institutional investors and hedge funds.

About Woodside Energy Group

Woodside Energy Group Ltd. is an Australia-based energy company engaged in the exploration, development and production of oil and natural gas. Its portfolio includes liquefied natural gas (LNG), pipeline gas, condensate, crude oil and other related energy products, which it supplies to customers in Australia and international markets.

Woodside operates major Australian assets, including the Pluto LNG project and interests in the North West Shelf venture in Western Australia. The company is also developing the Scarborough gas project, which is intended to supply additional gas to Pluto LNG.

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