Woodside Energy Group Ltd (NYSE:WDS) Sees Significant Drop in Short Interest

Woodside Energy Group Ltd (NYSE:WDS) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, a drop of 14.6% from the March 15th total of 2,120,000 shares. Based on an average daily volume of 960,500 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WDS. Northern Trust Corp grew its stake in Woodside Energy Group by 713.0% in the 4th quarter. Northern Trust Corp now owns 1,089,286 shares of the company’s stock valued at $16,993,000 after buying an additional 955,303 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Woodside Energy Group in the fourth quarter valued at approximately $7,809,000. Raymond James Financial Inc. acquired a new stake in shares of Woodside Energy Group in the fourth quarter worth $6,554,000. Voloridge Investment Management LLC bought a new position in Woodside Energy Group during the fourth quarter worth $5,388,000. Finally, Summit Global Investments bought a new stake in shares of Woodside Energy Group in the fourth quarter valued at about $5,308,000. Institutional investors own 3.17% of the company’s stock.

Woodside Energy Group Trading Up 2.8 %

Shares of NYSE:WDS opened at $12.79 on Monday. The firm has a market capitalization of $24.29 billion, a P/E ratio of 15.60 and a beta of 0.76. Woodside Energy Group has a 12-month low of $11.26 and a 12-month high of $20.17. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $14.13 and a two-hundred day moving average of $15.25.

Woodside Energy Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $0.51 per share. This represents a dividend yield of 7.6%. The ex-dividend date was Friday, March 7th. Woodside Energy Group’s dividend payout ratio (DPR) is presently 124.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WDS. Macquarie cut Woodside Energy Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Bank of America upgraded Woodside Energy Group from a “neutral” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, Citigroup upgraded shares of Woodside Energy Group from a “sell” rating to a “neutral” rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.