W&t Offshore (WTI)
NYSE:WTI
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W&T Offshore
(NYSE:WTI)
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Rating:53Neutral
Price Target:
$3.50
▲(100.00% Upside)
Action:Reiterated
Date:06/05/26
The score is held back primarily by weak profitability and elevated balance-sheet risk (negative equity), despite currently supportive cash generation and some debt reduction. Technicals are moderately positive and the earnings call tone was constructive on EBITDA/FCF with unchanged guidance, but near-term operational and liability-related headwinds (turnaround, ARO, litigation) keep the overall profile mid-range.
Positive Factors
Cash generation & EBITDA
Sustained positive adjusted EBITDA and meaningful free cash flow indicate the core Gulf of Mexico asset base generates cash despite net losses. That cash provides durable capacity to fund modest capex, service debt, and pursue accretive acquisitions over the next several quarters.
Negative Factors
Negative equity / balance sheet risk
Negative shareholders' equity is a structural weakness that constrains financing options, elevates creditor and covenant risk, and complicates large M&A or capital transactions. It increases sensitivity to commodity swings and leaves less room to absorb operating shocks over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & EBITDA
Sustained positive adjusted EBITDA and meaningful free cash flow indicate the core Gulf of Mexico asset base generates cash despite net losses. That cash provides durable capacity to fund modest capex, service debt, and pursue accretive acquisitions over the next several quarters.
Read all positive factors
W&T Offshore (WTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$477.58M
Dividend Yield2.41%
Average Volume (3M)6.02M
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth1.41%
EPS Growth-32.56%
CountryUS
Employees400
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.95
Shares Outstanding148,777,700
10 Day Avg. Volume5,475,964
30 Day Avg. Volume6,017,618
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 Cap1.50
Enterprise Value/Revenue1.37
Enterprise Value/Gross Profit5.19
Enterprise Value/Ebitda8.94
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)$577.27M
W&T Offshore Business Overview & Revenue Model
Company Description
W&T Offshore, Inc. operates as an independent energy producer, primarily focused on the identification, acquisition, and development of crude oil and natural gas assets within the Gulf of Mexico. The company markets and sells a range of products, ...
How the Company Makes Money
W&T Offshore makes money by producing and selling hydrocarbons—primarily crude oil, natural gas, and NGLs—from its offshore Gulf of Mexico properties. Its core revenue stream is commodity sales: volumes produced (net of royalties and other burdens...
W&T Offshore Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational performance and financial metrics: production held near the top of guidance, realized prices increased materially (26% vs Q4 2025), LOE decreased 11%, adjusted EBITDA was the highest since 2023 ($55M), and free cash flow improved ($21M). These positives, combined with a solid liquidity position and favorable regulatory developments, outweigh near-term headwinds. Near-term challenges include a planned Mobile Bay processing turnaround that pressures Q2 volumes and raises LOE, ongoing surety litigation, and material ARO obligations. Management reiterated an intentional capital-light, acquisition-focused strategy that supports liquidity and returns but carries execution risk if M&A opportunities are limited. Overall, highlights materially outweigh the lowlights.Positive Updates
Stable Production at Upper End of Guidance
Reported production of 36,200 barrels oil equivalent per day in Q1 2026, toward the higher end of guidance and effectively flat year-over-year versus 2025 despite adverse weather impacts early in 2026.
Negative Updates
Planned Mobile Bay Turnaround Impacting Volumes
Company disclosed a planned third‑party Mobile Bay natural gas processing facility turnaround in 2026 that will reduce NGL volumes and temporarily increase LOE, contributing to near-term production pressure.
Read all updates
Q1-2026 Updates
Positive
Negative
Stable Production at Upper End of Guidance
Reported production of 36,200 barrels oil equivalent per day in Q1 2026, toward the higher end of guidance and effectively flat year-over-year versus 2025 despite adverse weather impacts early in 2026.
Read all positive updates
Company Guidance
Management reiterated unchanged full‑year production and cost guidance while giving Q2 specifics and key metrics: Q1 production was 36,200 boe/d and Q2 midpoint is forecast at ~34,300 boe/d (≈5% lower, driven by a planned Mobile Bay gas‑processing turnaround that will cut NGL volumes and temporarily raise LOE); realized price was $45.08/boe for the quarter (March oil $88.61/bbl); Q1 LOE fell 11% to $66M but Q2 LOE is guided to $71–79M, transportation and production taxes $7–8M (vs $9M in Q1) and cash G&A is expected to be comparable; Q1 adjusted EBITDA was $55M (highest since 2023) and free cash flow $21M; balance sheet and liquidity: total debt $351M, net debt $220M, liquidity $175M; YTD CapEx $7M with full‑year CapEx guidance $20–25M (ex‑acquisitions), ARO budget $34–42M, and $17M of asset retirement settlements.W&T Offshore Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 521.61M | 501.46M | 525.26M | 532.66M | 921.00M | 558.01M |
| Gross Profit | 137.64M | 359.31M | 354.06M | 391.73M | 778.75M | 439.57M |
| EBITDA | 79.95M | 87.15M | 118.72M | 222.33M | 487.88M | 133.96M |
| Net Income | -142.01M | -150.06M | -87.14M | 15.60M | 231.15M | -41.48M |
Balance Sheet | ||||||
| Total Assets | 959.15M | 955.81M | 1.10B | 1.11B | 1.43B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 130.92M | 140.62M | 109.00M | 173.34M | 461.36M | 245.80M |
| Total Debt | 352.98M | 350.81M | 394.75M | 402.86M | 705.59M | 743.24M |
| Total Liabilities | 1.18B | 1.16B | 1.15B | 1.08B | 1.42B | 1.44B |
| Stockholders Equity | -221.75M | -199.75M | -52.58M | 31.19M | 7.63M | -247.18M |
Cash Flow | ||||||
| Free Cash Flow | 47.17M | 27.76M | -58.64M | 34.25M | 246.34M | 100.94M |
| Operating Cash Flow | 81.90M | 77.24M | 59.54M | 115.33M | 339.53M | 133.67M |
| Investing Cash Flow | -50.81M | 21.86M | -118.18M | -81.61M | -95.08M | -27.44M |
| Financing Cash Flow | -7.66M | -69.04M | -8.56M | -321.74M | -28.89M | 100.27M |
W&T Offshore Technical Analysis
Negative
1.75
Price Trends
3.82
Negative
3.29
Negative
2.57
Positive
Market Momentum
-0.15
Positive
38.21
Neutral
9.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WTI, the sentiment is Negative. The current price of 1.75 is below the 20-day moving average (MA) of 3.86, below the 50-day MA of 3.82, and below the 200-day MA of 2.57, indicating a neutral trend. The MACD of -0.15 indicates Positive momentum. The RSI at 38.21 is Neutral, neither overbought nor oversold. The STOCH value of 9.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $283.62M | 13.30 | 10.10% | ― | -26.15% | -56.98% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | $138.47M | ― | -5.44% | 13.52% | -3.16% | -313.41% | |
54 Neutral | $170.52M | 14.51 | 2.78% | ― | -21.23% | -41.25% | |
53 Neutral | $477.58M | ― | 81.53% | 2.41% | 1.41% | -32.56% | |
50 Neutral | $289.39M | ― | -33.01% | ― | -14.01% | -454.24% |
* Energy Sector Average
WTI
W&T Offshore
3.21
1.10
51.84%
EPM
Evolution Petroleum
3.86
-0.55
-12.41%
AMPY
Amplify Energy
4.13
0.47
12.84%
PNRG
Primeenergy
175.29
21.98
14.34%
REI
Ring Energy
1.14
0.34
42.50%
W&T Offshore Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
W&T Offshore Shareholders Back Board, Pay and Incentive Plan
Positive
Jun 4, 2026
At its recent Annual Meeting, WT Offshore shareholders elected six directors, including Virginia Boulet, John D. Buchanan, Nancy Chang, Daniel O. Conwill IV, Tracy W. Krohn and B. Frank Stanley, to serve until the 2027 Annual Meeting, reinforcing ...
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.