Woodside Energy Group (NYSE:WDS) Shares Gap Down - Here's Why

Woodside Energy Group Ltd (NYSE:WDS - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $16.56, but opened at $16.02. Woodside Energy Group shares last traded at $16.05, with a volume of 154,188 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDS. Morgan Stanley cut Woodside Energy Group from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, August 27th. Citigroup downgraded shares of Woodside Energy Group from a "neutral" rating to a "sell" rating in a report on Wednesday, September 4th. Sanford C. Bernstein downgraded shares of Woodside Energy Group from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 20th. The Goldman Sachs Group cut Woodside Energy Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada raised Woodside Energy Group to a "moderate buy" rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Woodside Energy Group Trading Down 2.9 %

The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 14.23 and a beta of 1.11. The company's 50-day moving average price is $17.18 and its 200-day moving average price is $18.01. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 0.13.

Woodside Energy Group Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 6th were issued a $0.67 dividend. This represents a yield of 6.8%. This is a boost from Woodside Energy Group's previous Semi-Annual dividend of $0.60. The ex-dividend date of this dividend was Friday, September 6th. Woodside Energy Group's payout ratio is presently 118.58%.

Hedge Funds Weigh In On Woodside Energy Group

A number of hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC increased its position in shares of Woodside Energy Group by 48.0% during the third quarter. Ballentine Partners LLC now owns 28,467 shares of the company's stock worth $491,000 after purchasing an additional 9,239 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Woodside Energy Group in the third quarter valued at about $282,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Woodside Energy Group by 71.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,135 shares of the company's stock worth $175,000 after buying an additional 4,237 shares in the last quarter. Blue Trust Inc. boosted its position in Woodside Energy Group by 154.2% during the third quarter. Blue Trust Inc. now owns 32,723 shares of the company's stock worth $616,000 after acquiring an additional 19,848 shares during the last quarter. Finally, Naviter Wealth LLC grew its stake in Woodside Energy Group by 2.2% during the 3rd quarter. Naviter Wealth LLC now owns 44,704 shares of the company's stock valued at $801,000 after acquiring an additional 960 shares in the last quarter. Institutional investors and hedge funds own 3.17% of the company's stock.

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.