Woodside Energy Group (NYSE:WDS) Coverage Initiated by Analysts at Bank of America

Key Points

• Bank of America initiated coverage of Woodside Energy Group with a “neutral” rating and a $23.21 price target, implying approximately 0.65% upside from the prior close.
• MarketBeat reports that three analysts rate the stock “Hold,” giving Woodside an overall average rating of “Hold” and an average price target of $23.21.
• Woodside shares traded up 2.9% and opened at $23.06, while several institutional investors—including Jane Street and JPMorgan—recently increased their holdings.

Stock analysts at Bank of America began coverage on shares of Woodside Energy Group (NYSE:WDS - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "neutral" rating and a $23.21 price target on the stock. Bank of America's target price would suggest a potential upside of 0.65% from the company's previous close.

WDS has been the topic of several other reports. Needham & Company LLC initiated coverage on shares of Woodside Energy Group in a research note on Tuesday. They set a "neutral" rating and a $23.21 target price on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Woodside Energy Group in a research report on Monday, June 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $23.21.

Woodside Energy Group Trading Up 2.9%

Shares of NYSE WDS opened at $23.06 on Tuesday. The firm has a fifty day simple moving average of $21.19 and a 200 day simple moving average of $21.41. Woodside Energy Group has a twelve month low of $14.27 and a twelve month high of $25.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.59 and a quick ratio of 1.46.

Hedge Funds Weigh In On Woodside Energy Group

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Woodside Energy Group during the first quarter worth $279,000. Jane Street Group LLC increased its position in shares of Woodside Energy Group by 648.0% during the 1st quarter. Jane Street Group LLC now owns 383,379 shares of the company's stock valued at $5,555,000 after purchasing an additional 332,125 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Woodside Energy Group by 111.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,092 shares of the company's stock worth $30,000 after purchasing an additional 1,102 shares during the period. Cetera Investment Advisers raised its stake in shares of Woodside Energy Group by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 42,025 shares of the company's stock worth $648,000 after purchasing an additional 1,756 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Woodside Energy Group by 103.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 66,840 shares of the company's stock worth $1,031,000 after buying an additional 33,956 shares during the last quarter. Institutional investors own 3.17% of the company's stock.

Woodside Energy Group Company Profile

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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