Woodside Energy Group (NYSE:WDS) Shares Gap Up - Should You Buy?

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $14.01, but opened at $14.35. Woodside Energy Group shares last traded at $14.26, with a volume of 115,479 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on WDS. Citigroup raised shares of Woodside Energy Group from a "sell" rating to a "neutral" rating in a research report on Tuesday, February 25th. Macquarie downgraded shares of Woodside Energy Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Woodside Energy Group Price Performance

The firm's 50-day moving average price is $13.33 and its 200-day moving average price is $14.66. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $27.21 billion, a PE ratio of 17.48 and a beta of 0.61.

Institutional Trading of Woodside Energy Group

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in Woodside Energy Group by 713.0% in the 4th quarter. Northern Trust Corp now owns 1,089,286 shares of the company's stock worth $16,993,000 after purchasing an additional 955,303 shares during the period. Marshall Wace LLP purchased a new stake in Woodside Energy Group in the 4th quarter worth about $7,809,000. Raymond James Financial Inc. purchased a new stake in Woodside Energy Group in the 4th quarter worth about $6,554,000. Voloridge Investment Management LLC purchased a new stake in Woodside Energy Group in the 4th quarter worth about $5,388,000. Finally, Summit Global Investments purchased a new stake in Woodside Energy Group in the 4th quarter worth about $5,308,000. 3.17% of the stock is currently owned by hedge funds and other institutional investors.

About Woodside Energy Group

Woodside Energy Group Ltd engages in the exploration, evaluation, development, production, and marketing of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe. The company produces liquefied natural gas, pipeline gas, crude oil and condensate, and natural gas liquids. It holds interests in the Pluto LNG, North West Shelf, Wheatstone and Julimar-Brunello, Bass Strait, Ngujima-Yin FPSO, Okha FPSO, Pyrenees FPSO, Macedon, Shenzi, Mad dog, Greater Angostura, as well as Scarborough, Sangomar, Trion, Calypso, Browse, Liard, Atlantis, Woodside Solar opportunity, and Sunrise and Troubadour.