Woodside Energy Group (NYSE:WDS) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Woodside Energy Group Ltd (NYSE:WDS) shares passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $23.04 and traded as high as $23.19. Woodside Energy Group shares last traded at $23.16, with a volume of 328,767 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America began coverage on shares of Woodside Energy Group in a research report on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 target price for the company. Zacks Research upgraded shares of Woodside Energy Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Needham & Company LLC started coverage on shares of Woodside Energy Group in a report on Tuesday, August 11th. They issued a “neutral” rating and a $23.21 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Woodside Energy Group in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.21.

Woodside Energy Group Trading Up 1.6%

The stock has a 50-day moving average of $23.03 and a 200 day moving average of $21.77. 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 company also recently announced a dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.57 dividend. This represents a yield of 500.0%. The ex-dividend date of this dividend was Friday, September 4th.

Hedge Funds Weigh In On Woodside Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in WDS. First Trust Advisors LP boosted its stake in shares of Woodside Energy Group by 25.8% during the first quarter. First Trust Advisors LP now owns 1,119,202 shares of the company’s stock valued at $26,727,000 after purchasing an additional 229,625 shares in the last quarter. Quantinno Capital Management LP grew its position in Woodside Energy Group by 20.6% in the 1st quarter. Quantinno Capital Management LP now owns 613,278 shares of the company’s stock worth $14,645,000 after purchasing an additional 104,720 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Woodside Energy Group by 67.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 415,076 shares of the company’s stock valued at $8,019,000 after buying an additional 166,495 shares during the last quarter. Hourglass Capital LLC lifted its holdings in Woodside Energy Group by 0.9% during the third quarter. Hourglass Capital LLC now owns 329,668 shares of the company’s stock valued at $7,309,000 after purchasing an additional 2,908 shares during the last quarter. Finally, XY Capital Ltd bought a new position in Woodside Energy Group in the 2nd quarter worth approximately $3,439,000. 3.17% of the stock is currently owned by institutional investors and hedge funds.

About Woodside Energy Group

Woodside Energy Group Ltd. is an Australia-based energy company engaged in the exploration, development and production of oil and natural gas. Its portfolio includes liquefied natural gas (LNG), pipeline gas, condensate, crude oil and other related energy products, which it supplies to customers in Australia and international markets.

Woodside operates major Australian assets, including the Pluto LNG project and interests in the North West Shelf venture in Western Australia. The company is also developing the Scarborough gas project, which is intended to supply additional gas to Pluto LNG.