Woodside Energy Group (NYSE:WDS) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Woodside Energy Group to “Hold.” Bank of America, Needham and Weiss Ratings also maintain neutral or hold views, giving the stock a consensus “Hold” rating and an average price target of $23.21.
• WDS shares opened at $22.93, near the analyst target, with a 1-year trading range of $14.27 to $25.19. The company reports a quick ratio of 1.46, a current ratio of 1.59 and debt-to-equity of 0.28.
• Institutional investors and hedge funds own a relatively small 3.17% stake in Woodside Energy Group, while several smaller investment firms recently increased or initiated positions.

Woodside Energy Group (NYSE:WDS - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

WDS has been the subject of a number of other research reports. Bank of America began coverage on shares of Woodside Energy Group in a research report on Tuesday. They set a "neutral" rating and a $23.21 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of Woodside Energy Group in a research note on Monday, June 8th. Finally, Needham & Company LLC assumed coverage on Woodside Energy Group in a research report on Tuesday. They set a "neutral" rating and a $23.21 price target for the company. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.21.

Woodside Energy Group Stock Performance

Shares of WDS stock opened at $22.93 on Tuesday. Woodside Energy Group has a 1-year low of $14.27 and a 1-year high of $25.19. The company has a 50-day moving average of $21.22 and a two-hundred day moving average of $21.51. The company has a quick ratio of 1.46, a current ratio of 1.59 and a debt-to-equity ratio of 0.28.

Institutional Trading of Woodside Energy Group

Several hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners lifted its stake in Woodside Energy Group by 257.0% in the fourth quarter. Arax Advisory Partners now owns 1,660 shares of the company's stock worth $26,000 after acquiring an additional 1,195 shares during the last quarter. EFG International AG acquired a new stake in shares of Woodside Energy Group in the 4th quarter valued at $32,000. Geneos Wealth Management Inc. raised its holdings in shares of Woodside Energy Group by 111.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,092 shares of the company's stock valued at $30,000 after purchasing an additional 1,102 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Woodside Energy Group during the 4th quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Woodside Energy Group by 38.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,317 shares of the company's stock worth $36,000 after purchasing an additional 646 shares during the last quarter. Institutional investors and hedge funds 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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