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W&T Offshore WTI Stock Forecast and Price Target 2024

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%.

  1. 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.
  2. According to analysts, W&T Offshore’s stock has a predicted upside of 172.41% based on their 12-month stock forecasts.
  3. 52.0% of employees surveyed would recommend working at W&T Offshore to a friend.
  4. According to the issued ratings of 1 analysts in the last year, the consensus rating for W&T Offshore stock is Buy based on the current 1 buy rating for WTI.

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.

W&T Offshore Issues 2022 Corporate Environmental, Social, and Governance Report

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 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.

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/svk-markets-review-south-africa/ 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.

W&T Offshore Announces Accretive Acquisition of Producing Properties in the Gulf of Mexico

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.

Recent Analyst Ratings and Stock Forecasts

Both benchmark oils are considered sweet, but WTI is sweeter making it a bit easier to refine. According to the issued ratings of 1 analysts in the last year, the consensus rating for W&T Offshore stock is Buy based on the current 1 buy rating for WTI. The average twelve-month price prediction for W&T Offshore is $7.90 with a high price target of $7.90 and a low price target of $7.90. West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude.

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.

© 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 what is a ux engineer 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.

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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.”

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 https://www.forexbox.info/accurate-currency-strength-meter-live-strength/ 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.

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