Woodside Energy Group (NYSE:WDS) Sees Large Volume Increase – Still a Buy?

Woodside Energy Group Ltd (NYSE:WDS) shares saw unusually-high trading volume on Friday . Approximately 4,050,029 shares traded hands during mid-day trading, an increase of 280% from the previous session’s volume of 1,066,762 shares.The stock last traded at $23.55 and had previously closed at $21.73.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Woodside Energy Group in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Woodside Energy Group Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.59 and a quick ratio of 1.46. The firm’s 50 day moving average price is $22.83 and its 200-day moving average price is $19.90.

Insiders Place Their Bets

In other Woodside Energy Group news, insider Mark Anthony Abbotsford sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $24.06, for a total transaction of $180,450.00. Following the sale, the insider directly owned 24,467 shares in the company, valued at approximately $588,676.02. This trade represents a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Woodside Energy Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barometer Capital Management Inc. boosted its holdings in shares of Woodside Energy Group by 71.7% during the 3rd quarter. Barometer Capital Management Inc. now owns 129,306 shares of the company’s stock worth $1,946,000 after buying an additional 54,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Woodside Energy Group by 63.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 109,312 shares of the company’s stock worth $1,645,000 after buying an additional 42,472 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Woodside Energy Group during the 4th quarter worth approximately $418,000. UBS Group AG boosted its holdings in shares of Woodside Energy Group by 381.1% during the 4th 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 in the last quarter. Finally, U S Global Investors Inc. bought a new position in shares of Woodside Energy Group during the 4th quarter worth approximately $624,000. 3.17% of the stock is owned by institutional investors.

About Woodside Energy Group

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.