Woodside Energy Group (NYSE:WDS) Shares Gap Up - Here's Why

Key Points

• Gapped up: WDS opened at $24.59 vs. the prior close of $22.85 and last traded around $25.13, up roughly 8.4% on about 1.2 million shares.
• Dividend announced: Woodside disclosed a $0.59 per share dividend (ex-dividend Mar 6, payable Mar 27), which MarketBeat reports as a 594.0% yield.
• Analyst and financial backdrop: Consensus is a "Moderate Buy" (one Strong Buy, two Holds), with low leverage (debt/equity 0.28) and the stock trading well above its 50‑day ($18.82) and 200‑day ($16.93) moving averages.

Shares of Woodside Energy Group Ltd (NYSE:WDS - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $22.85, but opened at $24.59. Woodside Energy Group shares last traded at $25.1250, with a volume of 1,203,510 shares traded.

Wall Street Analysts Forecast Growth

WDS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Woodside Energy Group from a "sell" rating to a "hold" rating in a research note on Monday, January 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Woodside Energy Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

Woodside Energy Group Stock Up 8.4%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.46 and a current ratio of 1.59. The company's 50 day moving average price is $18.82 and its 200-day moving average price is $16.93.

Woodside Energy Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.59 per share. This represents a yield of 594.0%. The ex-dividend date of this dividend is Friday, March 6th.

Institutional Trading of Woodside Energy Group

Several hedge funds have recently made changes to their positions in WDS. Arax Advisory Partners lifted its position in shares of Woodside Energy Group by 257.0% during the 4th quarter. Arax Advisory Partners now owns 1,660 shares of the company's stock valued at $26,000 after buying an additional 1,195 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 acquiring an additional 1,102 shares during the last quarter. Rothschild Investment LLC raised its stake in Woodside Energy Group by 137.7% in the 2nd quarter. Rothschild Investment LLC now owns 2,073 shares of the company's stock valued at $32,000 after acquiring an additional 1,201 shares during the period. EFG International AG bought a new stake in Woodside Energy Group in the 4th quarter valued at about $32,000. Finally, MAI Capital Management lifted its holdings in Woodside Energy Group by 206.6% during the second quarter. MAI Capital Management now owns 2,287 shares of the company's stock valued at $35,000 after purchasing an additional 1,541 shares during the last quarter. 3.17% of the stock is currently owned by 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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