Woodside Energy Group (NYSE:WDS) Stock Price Down 14.9% – Here’s What Happened

Woodside Energy Group Ltd (NYSE:WDS) shares dropped 14.9% during mid-day trading on Friday . The stock traded as low as $11.50 and last traded at $11.59. Approximately 1,290,382 shares traded hands during trading, an increase of 38% from the average daily volume of 933,965 shares. The stock had previously closed at $13.62.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WDS shares. Citigroup raised Woodside Energy Group from a “sell” rating to a “neutral” rating in a research report on Tuesday, February 25th. Bank of America upgraded shares of Woodside Energy Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Woodside Energy Group Trading Down 14.6 %

The firm has a 50-day moving average price of $14.89 and a 200 day moving average price of $15.67. The company has a market cap of $22.07 billion, a price-to-earnings ratio of 14.18 and a beta of 0.76. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 0.13.

Woodside Energy Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were paid a $0.51 dividend. This represents a yield of 7.6%. The ex-dividend date of this dividend was Friday, March 7th. Woodside Energy Group’s payout ratio is 124.39%.

Institutional Trading of Woodside Energy Group

Several hedge funds have recently bought and sold shares of WDS. GAMMA Investing LLC raised its stake in shares of Woodside Energy Group by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 2,176 shares of the company’s stock valued at $34,000 after purchasing an additional 661 shares in the last quarter. Virtu Financial LLC lifted its stake in Woodside Energy Group by 7.1% in the 4th quarter. Virtu Financial LLC now owns 12,215 shares of the company’s stock worth $191,000 after acquiring an additional 813 shares in the last quarter. Mission Wealth Management LP increased its stake in Woodside Energy Group by 8.2% in the 4th quarter. Mission Wealth Management LP now owns 11,650 shares of the company’s stock valued at $182,000 after buying an additional 881 shares during the period. Sei Investments Co. raised its holdings in shares of Woodside Energy Group by 2.1% during the fourth quarter. Sei Investments Co. now owns 56,689 shares of the company’s stock worth $884,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in Woodside Energy Group by 10.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,434 shares of the company’s stock valued at $194,000 after purchasing an additional 1,155 shares in the last quarter. 3.17% of the stock is currently owned by institutional investors.

Woodside Energy Group Company Profile

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.