Woodside Energy Group (NYSE:WDS) Shares Gap Down – Here’s Why

Woodside Energy Group Ltd (NYSE:WDS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $23.72, but opened at $22.76. Woodside Energy Group shares last traded at $22.6210, with a volume of 30,381 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WDS shares. Bank of America started coverage on shares of Woodside Energy Group in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 target price for the company. Zacks Research raised shares of Woodside Energy Group to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Woodside Energy Group in a research report on Monday, June 8th. Finally, Needham & Company LLC began coverage on Woodside Energy Group in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 target price for the company. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.21.

Woodside Energy Group Stock Performance

The stock has a 50-day moving average of $22.06 and a 200 day moving average of $22.14. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.39 and a quick ratio of 1.28.

Woodside Energy Group Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.57 dividend. This represents a dividend yield of 500.0%. The ex-dividend date of this dividend is Friday, September 4th.

Institutional Investors Weigh In On Woodside Energy Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Woodside Energy Group by 32.3% in the fourth quarter. Morgan Stanley now owns 4,539,156 shares of the company’s stock worth $70,765,000 after acquiring an additional 1,108,540 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Woodside Energy Group by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,416,708 shares of the company’s stock worth $53,266,000 after buying an additional 148,588 shares during the period. UBS Group AG raised its stake in shares of Woodside Energy Group by 381.1% during the 4th quarter. UBS Group AG now owns 1,222,912 shares of the company’s stock worth $19,065,000 after buying an additional 968,707 shares during the period. First Trust Advisors LP lifted its position in shares of Woodside Energy Group by 25.8% during the 1st quarter. First Trust Advisors LP now owns 1,119,202 shares of the company’s stock valued at $26,727,000 after buying an additional 229,625 shares in the last quarter. Finally, Millennium Management LLC raised its position in Woodside Energy Group by 3,532.4% during the fourth quarter. Millennium Management LLC now owns 735,455 shares of the company’s stock worth $11,466,000 after acquiring an additional 715,208 shares during the period. Institutional investors and hedge funds own 3.17% of the company’s stock.

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.