Woodside Energy Group (NYSE:WDS) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Woodside Energy Group Ltd (NYSE:WDS) 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.

Analysts Set New Price Targets

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

Woodside Energy Group Stock Performance

The company’s 50-day simple moving average is $23.04 and its 200 day simple moving average is $21.73. The company has a current ratio of 1.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.25.

Woodside Energy Group Announces Dividend

The business also recently declared a dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.57 per share. This represents a dividend yield of 500.0%. The ex-dividend date was Friday, September 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of 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 worth $26,727,000 after buying an additional 229,625 shares during the period. Quantinno Capital Management LP grew its stake 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 valued at $14,645,000 after buying an additional 104,720 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Woodside Energy Group by 67.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 415,076 shares of the company’s stock worth $8,019,000 after acquiring an additional 166,495 shares during the period. Hourglass Capital LLC raised its holdings in Woodside Energy Group by 0.9% in the 3rd quarter. Hourglass Capital LLC now owns 329,668 shares of the company’s stock worth $7,309,000 after acquiring an additional 2,908 shares during the period. Finally, XY Capital Ltd bought a new position in Woodside Energy Group in the 2nd quarter worth $3,439,000. Institutional investors and hedge funds own 3.17% of the company’s stock.

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.