Adding text to various coordinates


I'd like to be able to add text to various (x,y) coordinates. Currently
I specify a figsize of (1.3,0.3) and I add as text (via the text
method) the value of the last y, right next to that data point.
Depending on the actual value, sometimes the text does not fit within
the bounds of the figure.

Is there any way I can enlarge just the figure so that the text can
fit, without enlarging the axes? Or is there a better way to solve my