Tracy W. Krohn has an approval rating of 55% among the company’s employees. This puts Tracy W. Krohn in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. 52.0% of employees surveyed would recommend working at W&T Offshore to a friend. The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. W&T Offshore’s stock was trading at $3.26 at the beginning of 2024. Since then, WTI shares have decreased by 22.4% and is now trading at $2.53.
WTI is known as a light sweet oil because it contains less than 0.50% sulfur (normally about 0.24% to 0.34%), making it « sweet, » and has a low density making it « light. » Since the shale boom in the U.S., which resulted in a production increase of WTI, the price of WTI has gone down and usually trades at a discount to Brent. Brent is also tied to more worldwide oil markets and serves as an international benchmark, meaning that more factors are influencing its price. Furthermore, transporting WTI overseas to Brent crude’s market could come at a cost that would make WTI unable to compete with Brent crude in terms of pricing. Theoretically, WTI crude should trade at a premium to Brent crude, given the quality, but this is not always the case.
These are standardized products used to determine the prices for all other types. The reference oil traded most frequently and of major significance for the USA is West Texas Intermediate (WTI), while the most important in Asia is Dubai Fateh. Other reference oil types include Leona, Tijuana, Alaska North Slope, Zueitina or Urals.
You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. According to analysts, W&T Offshore’s stock has a predicted upside of 172.41% based on their 12-month stock forecasts. Sign-up to receive the latest news and ratings for W&T Offshore and its competitors with MarketBeat’s FREE daily newsletter. The Cushing hub delivery system consists of 35 (20 inbound and 15 outbound) pipelines and 16 storage terminals.
This suggests a possible upside of 212.3% from the stock’s current price. View analysts price targets for WTI or view top-rated stocks among Wall Street analysts. WTI is not the most commonly used benchmark globally, that honor goes to Brent, where two-thirds of oil contracts globally use Brent as a benchmark. Both, however, are considered high-quality oils and are therefore the two most important oil benchmarks in the world. As mentioned, WTI has a sulfur content between 0.24% and 0.34%, whereas Brent has a sulfur content between 0.35% to 0.40%. The lower the sulfur content of an oil, the easier it is to refine, making it more attractive.
WTI is the main oil benchmark for North America as it is sourced from the United States, primarily from the Permian Basin. It then travels through pipelines where it is refined in the Midwest and the Gulf of Mexico. The main delivery point for physical exchange and price settlement for WTI is Cushing, Oklahoma. The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies. According to one analyst, the rating for WTI stock is « Strong Buy » and the 12-month stock price forecast is $7.9. WTI is the underlying commodity of the New York Mercantile Exchange’s (NYMEX) oil futures contract and is considered a high-quality oil that is easily refined.
- The US investment bank Goldman Sachs estimates the proportion of crude oil used for primary materials production to be 45 percent.
- The significance of a benchmark in the oil market is that benchmarks serve as a reference price for buyers and sellers of crude oil.
- W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas.
- Oil benchmarks are frequently quoted in the media as the price of oil.
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WTI Price Targets by Month
Crude oil is by far the world’s most important energy source and the price of oil therefore plays an important role in industrial and economic development. The most important type of crude oil used in Europe is Brent Crude, named after the North Sea oilfield where it is extracted. Brent Crude is a particularly light crude oil which is carried from the North Sea to the Sullom Voe Terminal on Mainland, Shetland by an underwater pipeline. From there, the crude oil is transported by tanker. 1 Wall Street research analysts have issued « buy, » « hold, » and « sell » ratings for W&T Offshore in the last twelve months. The consensus among Wall Street research analysts is that investors should « buy » WTI shares.
Oil Price (Brent Crude and WTI)
© 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. W&T Offshore’s stock is owned by many different retail and institutional investors. Insiders that own company stock include B Frank Stanley, Shahid Ghauri and Virginia Boulet. 15 employees have rated W&T Offshore Chief Executive Officer Tracy W. Krohn on Glassdoor.com.
On an international level there are a number of different types of crude oil, each of which have different properties and prices. The different types of crude oil come from regions how to use quickswap: security check as diverse as Alaska North Lope, Arab Light or Zueitina in Libya. For the purposes of trading on futures exchanges in London or New York, however, reference oils are used.
W&T Offshore Consensus Analyst Rating and Stock Price Forecast (
Analysts like W&T Offshore more than other Oils/Energy companies. The consensus rating for W&T Offshore is Buy while the average consensus rating for oils/energy companies is Moderate Buy. In December 2005 the global demand for crude oil was 83.3 million barrels per day according to the International Energy Agency (IEA) and will rise further. W&T Offshore announced a quarterly dividend on Tuesday, March 5th. Stockholders of record on Monday, March 18th will be given a dividend of $0.01 per share on Monday, March 25th. This represents a $0.04 annualized dividend and a yield of 1.58%.
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Besides its primary role as the most important energy source, crude oil is also an essential raw material for manufacturing plastics. Because the supply of crude oil is limited but demand is constantly growing, the price of oil is also continuously rising. Because crude oil is needed to manufacture other primary materials, it is the world’s most important commodity. The US investment https://www.day-trading.info/blackwell-global-review-2021-2/ bank Goldman Sachs estimates the proportion of crude oil used for primary materials production to be 45 percent. W&T Offshore, Inc., an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas.
Though Brent crude and WTI crude are the most popular benchmarks, their prices are often contrasted. The difference in price between Brent and WTI is called the Brent-WTI spread. 1 Wall Street research analysts have issued twelve-month price objectives for W&T Offshore’s stock. Their WTI share price targets range from $7.90 to $7.90. On average, they anticipate the company’s share price to reach $7.90 in the next twelve months.
The hub has 90 million barrels of storage capacity and accounts for 13% of U.S. oil storage. The inbound and outbound capacity is 6.5 million barrels a day. Cushing is known as « The Pipeline Crossroads of the World. »
W&T Offshore, Inc. was founded in 1983 and is headquartered in Houston, Texas. The significance of a benchmark in the oil market is that benchmarks serve as a reference price for buyers and sellers of crude oil. Oil benchmarks are frequently quoted in the media as the price of oil.
