Woodside Energy Group (NYSE:WDS) Coverage Initiated at Bank of America

Analysts at Bank of America began coverage on shares of Woodside Energy Group (NYSE:WDS) in a report released on Tuesday. The brokerage set a “neutral” rating and a $23.21 price target on the stock. Bank of America‘s price target indicates a potential upside of 0.65% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Needham & Company LLC assumed coverage on Woodside Energy Group in a research note on Tuesday. They set a “neutral” rating and a $23.21 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Woodside Energy Group in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.21.

Woodside Energy Group Trading Up 2.9%

Woodside Energy Group stock opened at $23.06 on Tuesday. The business’s 50 day simple moving average is $21.19 and its 200 day simple moving average is $21.41. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.28. Woodside Energy Group has a 12 month low of $14.27 and a 12 month high of $25.19.

Institutional Trading of Woodside Energy Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barometer Capital Management Inc. bought a new stake in Woodside Energy Group in the 1st quarter worth approximately $1,595,000. First Trust Advisors LP boosted its holdings in 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 acquiring an additional 229,625 shares during the period. Walleye Capital LLC purchased a new position in Woodside Energy Group in the 1st quarter worth approximately $1,448,000. Quantinno Capital Management LP boosted its stake in shares of Woodside Energy Group by 20.6% during the first quarter. Quantinno Capital Management LP now owns 613,278 shares of the company’s stock valued at $14,645,000 after purchasing an additional 104,720 shares during the period. Finally, UBS Group AG increased its stake in shares of Woodside Energy Group by 381.1% in the fourth 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. 3.17% of the stock is currently owned by hedge funds and other institutional investors.

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.