W&t Offshore (WTI)
NYSE:WTI
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W&T Offshore
(NYSE:WTI)
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Rating:55Neutral
Price Target:
$4.50
▲(157.14% Upside)
Action:ReiteratedDate:04/23/26
The score is held back primarily by weak financial fundamentals—especially negative equity and recent net losses—despite improved cash flow. Technical momentum is constructive and the earnings call was broadly positive (liquidity/debt reduction and disciplined 2026 plans), but valuation is less supportive given the negative P/E and only modest dividend yield.
Positive Factors
Improved cash generation
Sustained positive operating cash flow and a return to free cash flow provide durable internal funding for maintenance capex, dividends and debt reduction. This strengthens financial flexibility versus relying solely on external financing, improving resilience through commodity cycles.
Negative Factors
Negative shareholders' equity / high leverage
Negative equity constrains financial flexibility, complicates covenant negotiations and raises refinancing risk if markets tighten. Large absolute debt on a weak capital base increases cost of capital and leaves the company exposed in prolonged commodity downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Sustained positive operating cash flow and a return to free cash flow provide durable internal funding for maintenance capex, dividends and debt reduction. This strengthens financial flexibility versus relying solely on external financing, improving resilience through commodity cycles.
Read all positive factors
W&T Offshore (WTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$651.65M
Dividend Yield2.41%
Average Volume (3M)10.83M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-4.53%
EPS Growth-70.85%
CountryUS
Employees400
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-1.01
Shares Outstanding148,777,700
10 Day Avg. Volume9,754,036
30 Day Avg. Volume10,825,461
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-1.21
Price to Sales (P/S)0.48
P/FCF Ratio8.70
Enterprise Value/Market Cap1.28
Enterprise Value/Revenue1.67
Enterprise Value/Gross Profit7.85
Enterprise Value/Ebitda12.38
Forecast
1Y Price Target
$5.00Price Target Upside185.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.4
Revenue Forecast (FY)$560.31M
W&T Offshore Business Overview & Revenue Model
Company Description
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, natural gas liquids, and natural gas. A...
How the Company Makes Money
W&T Offshore makes money primarily by producing and selling hydrocarbons—crude oil, natural gas, and (when applicable) natural gas liquids—from its working interests in offshore Gulf of Mexico wells and fields. Revenue is recognized from the sale ...
W&T Offshore Earnings Call Summary
Earnings Call Date:Mar 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call emphasized multiple operational and financial positives: sequential and year-over-year production growth, improved liquidity, a meaningful reduction in net debt, strong adjusted EBITDA, improved proved-developed producing mix and targeted capital discipline for 2026. Challenges highlighted include weather-related downtime, ongoing asset retirement cash requirements, flat overall reserves over two years (with replacement driven by acquisitions rather than organic drilling), and some legal/regulatory uncertainty. On balance, the company presented more and larger positive developments than negatives, underpinned by stronger cash, lower leverage, cost control, and clear capital allocation discipline.Positive Updates
Quarterly and Year-over-Year Production Growth
Production increased every quarter in 2025 from 30,500 boe/d in Q1 to 36,200 boe/d in Q4; Q4 production was up 2% sequentially and up 13% year-over-year versus Q4 2024.
Negative Updates
Weather-Related Operational Disruptions
Unplanned downtime at several fields due to winter freezes (noted impact in Q1 2025 and again in early 2026) temporarily reduced production and influenced Q1 2026 guidance (Q1 midpoint ~35,000 boe/d).
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Year-over-Year Production Growth
Production increased every quarter in 2025 from 30,500 boe/d in Q1 to 36,200 boe/d in Q4; Q4 production was up 2% sequentially and up 13% year-over-year versus Q4 2024.
Read all positive updates
Company Guidance
The company guided Q1 2026 production midpoint at about 35,000 BOE/d and full‑year 2026 production midpoint also around 35,000 BOE/d (assuming no additional acquisitions or drilling), with 2026 capital expenditures centered at roughly $22.0 million at the midpoint (versus $55.0 million in 2025), plugging & abandonment (P&A) about $38.0 million (2025 P&A was $37.0 million), and stated first‑quarter LOE of $63.0–$70.0 million and full‑year LOE of $265.0–$295.0 million (noting Q4 LOE was $22.4/BOE and management expects LOE to be lower in 2026 despite higher production); Q1 gathering/transportation/production taxes are guided to $8.0–$9.0 million and Q1 cash G&A to $15.0–$17.0 million, with the company expecting these cost reductions and completed 2025 projects to drive higher realizations and a continued build in cash.W&T Offshore Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
22
Negative
Cash Flow
54
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 501.46M | 525.26M | 532.66M | 921.00M | 558.01M |
| Gross Profit | 27.15M | 354.06M | 391.73M | 778.75M | 439.57M |
| EBITDA | 96.98M | 118.72M | 222.33M | 487.88M | 133.96M |
| Net Income | -150.06M | -87.14M | 15.60M | 231.15M | -41.48M |
Balance Sheet | |||||
| Total Assets | 955.81M | 1.10B | 1.11B | 1.43B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 140.62M | 109.00M | 173.34M | 461.36M | 245.80M |
| Total Debt | 350.81M | 394.75M | 402.86M | 705.59M | 743.24M |
| Total Liabilities | 1.16B | 1.15B | 1.08B | 1.42B | 1.44B |
| Stockholders Equity | -199.75M | -52.58M | 31.19M | 7.63M | -247.18M |
Cash Flow | |||||
| Free Cash Flow | 27.76M | -58.64M | 34.25M | 246.34M | 100.94M |
| Operating Cash Flow | 77.24M | 59.54M | 115.33M | 339.53M | 133.67M |
| Investing Cash Flow | 21.86M | -118.18M | -81.61M | -95.08M | -27.44M |
| Financing Cash Flow | -69.04M | -8.56M | -321.74M | -28.89M | 100.27M |
W&T Offshore Technical Analysis
Neutral
1.75
Price Trends
2.87
Positive
2.33
Positive
2.09
Positive
Market Momentum
>-0.01
Positive
47.55
Neutral
32.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WTI, the sentiment is Neutral. The current price of 1.75 is below the 20-day moving average (MA) of 3.09, below the 50-day MA of 2.87, and below the 200-day MA of 2.09, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.55 is Neutral, neither overbought nor oversold. The STOCH value of 32.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for WTI.
W&T Offshore Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $260.94M | 0.72 | 10.56% | ― | -10.63% | 239.78% | |
69 Neutral | $369.94M | 20.61 | 12.53% | ― | -20.52% | -49.47% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $172.57M | 28.10 | 4.46% | 13.52% | -0.91% | 65.38% | |
60 Neutral | $406.23M | -3.50 | -4.02% | ― | -16.15% | -148.78% | |
55 Neutral | $651.65M | -2.23 | 107.62% | 2.41% | -4.53% | -70.85% |
* Energy Sector Average
WTI
W&T Offshore
4.38
3.25
285.90%
EPM
Evolution Petroleum
4.93
1.23
33.17%
AMPY
Amplify Energy
6.32
3.66
137.59%
PNRG
Primeenergy
228.64
62.65
37.74%
REI
Ring Energy
1.94
1.08
125.58%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.