5 Best Oil and Gas Penny Stocks to Buy Now

2. W&T Offshore, Inc. (NYSE:WTI)

Number of Hedge Fund Holders: 20

W&T Offshore, Inc. (NYSE:WTI) is an independent oil and natural gas producer, active in the exploration, development, and acquisition of oil and natural gas in the Gulf of America.

W&T Offshore, Inc. (NYSE:WTI) reported its Q4 2025 results on March 16, with the company’s loss per share of $0.14 falling behind estimates by $0.02. Revenue for the quarter came in at $121.7 million, up 1.1% YoY but still missing expectations by $765,000. That said, W&T grew its production by 2% sequentially and 13% YoY during the fourth quarter.

W&T Offshore, Inc. (NYSE:WTI) also highlighted several key achievements for its full-year 2025. The company increased production every quarter during the year, from 30,500 boed in the first quarter to 36,200 in Q4. Moreover, the oil and gas producer managed to bolster its balance sheet by ending the year with almost $141 million in cash, up by $31 million from the end of 2024. Net debt also reduced by $74 million to $210 million.

W&T Offshore, Inc. (NYSE:WTI) is projecting the midpoint of its Q1 2026 production at around 35,000 boed, with the full-year 2026 production midpoint also expected at around the same level, assuming no additional acquisitions or drilling.