W&t Offshore (WTI)
NYSE:WTI
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W&T Offshore
(NYSE:WTI)
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Rating:55Neutral
Price Target:
$3.00
▲(71.43% Upside)
Action:ReiteratedDate:03/17/26
The score is held back primarily by weak financial performance (recurring losses and negative equity despite improved cash flow) and only moderate valuation support due to a negative P/E. These are partially offset by constructive technical momentum and a generally positive earnings call focused on liquidity improvement, debt reduction, and cost discipline.
Positive Factors
Improved cash generation
Sustained positive operating cash flow (~$77M in 2025) and a return to positive free cash flow (~$28M) indicate the business can internally fund routine needs. Over 2–6 months this strengthens liquidity, supports debt service, dividend cadence and selective capital spending without relying solely on external financing.
Negative Factors
Negative shareholders' equity; sizable debt
Negative equity and roughly $351M of debt materially weaken capitalization and increase refinancing risk. Negative equity distorts leverage metrics and limits access to unsecured financing, making the company more vulnerable to tighter credit or lower commodity prices over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Sustained positive operating cash flow (~$77M in 2025) and a return to positive free cash flow (~$28M) indicate the business can internally fund routine needs. Over 2–6 months this strengthens liquidity, supports debt service, dividend cadence and selective capital spending without relying solely on external financing.
Read all positive factors
W&T Offshore (WTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$452.28M
Dividend Yield2.41%
Average Volume (3M)11.01M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-6.92%
EPS Growth-126.24%
CountryUS
Employees400
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.14
Shares Outstanding148,777,700
10 Day Avg. Volume10,301,028
30 Day Avg. Volume11,010,312
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 Cap1.39
Enterprise Value/Revenue1.25
Enterprise Value/Gross Profit5.88
Enterprise Value/Ebitda9.28
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.45
Revenue Forecast (FY)$513.40M
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 12, 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
2.82
Negative
2.30
Positive
2.08
Positive
Market Momentum
0.02
Positive
45.96
Neutral
20.45
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 3.10, below the 50-day MA of 2.82, and below the 200-day MA of 2.08, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 45.96 is Neutral, neither overbought nor oversold. The STOCH value of 20.45 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 | $242.64M | 4.20 | 10.56% | ― | -9.46% | -144.89% | |
75 Outperform | $354.94M | 6.52 | 12.19% | ― | -6.03% | -54.59% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $156.12M | 28.10 | 4.46% | 13.52% | -2.23% | -104.00% | |
60 Neutral | $288.97M | ― | -4.02% | ― | -15.44% | -113.21% | |
55 Neutral | $452.28M | -1.61 | 107.62% | 2.41% | -6.92% | -126.24% |
* Energy Sector Average
WTI
W&T Offshore
2.80
1.70
155.47%
EPM
Evolution Petroleum
4.23
0.47
12.62%
AMPY
Amplify Energy
5.50
3.08
127.27%
PNRG
Primeenergy
198.10
10.30
5.48%
REI
Ring Energy
1.31
0.49
60.15%
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.