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

Woodside Energy Group Ltd (NYSE:WDS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $23.82, but opened at $22.72. Woodside Energy Group shares last traded at $23.4180, with a volume of 77,070 shares trading hands.

Wall Street Analyst Weigh In

WDS has been the subject of a number of research reports. Needham & Company LLC assumed coverage on Woodside Energy Group in a research report on Tuesday, August 11th. They set a “neutral” rating and a $23.21 price objective for the company. Bank of America initiated coverage on Woodside Energy Group in a report on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 target price on the stock. Zacks Research raised shares of Woodside Energy Group to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Woodside Energy Group in a report on Monday, June 8th. Four 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

The firm’s 50 day moving average price is $21.61 and its 200-day moving average price is $21.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.59 and a quick ratio of 1.46.

Woodside Energy Group Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a dividend yield of 499.0%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Woodside Energy Group by 17.5% during the 1st quarter. Fifth Third Bancorp now owns 3,460 shares of the company’s stock worth $83,000 after purchasing an additional 515 shares during the last quarter. Blue Trust Inc. increased its holdings in Woodside Energy Group by 4.6% during the first quarter. Blue Trust Inc. now owns 12,052 shares of the company’s stock worth $288,000 after buying an additional 535 shares during the last quarter. Syon Capital LLC raised its position in Woodside Energy Group by 3.2% during the fourth quarter. Syon Capital LLC now owns 17,561 shares of the company’s stock worth $274,000 after acquiring an additional 543 shares in the last quarter. Allworth Financial LP lifted its stake in Woodside Energy Group by 19.3% in the fourth quarter. Allworth Financial LP now owns 3,907 shares of the company’s stock valued at $61,000 after acquiring an additional 633 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Woodside Energy Group by 38.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,317 shares of the company’s stock valued at $36,000 after acquiring an additional 646 shares during the period. 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.