11 Best NYSE Penny Stocks to Buy Right Now

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9. Kosmos Energy Ltd. (NYSE:KOS)

Price as of October 31: $3.82

Number of Hedge Fund Holders: 25

Kosmos Energy Ltd. (NYSE:KOS) is an independent energy company that explores, develops, and produces oil and gas. The stock has been under pressure on the overall oil market, with oil prices plunging below $80 a barrel and below $70 per barrel. Amid the underperformance, it remains one of the best NYSE penny stocks to buy now as it is positioning itself to take advantage of higher oil prices in future.

Kosmos Energy Ltd. (NYSE:KOS) has been increasing its oil and gas production with plans to hit 50% production growth. Its production levels hit 62,000 barrels daily in the second quarter, marking a 7% year-over-year growth. It plans to hit 90,000-a-barrel day production by the end of the year. Capital expenditure is expected to drop as production ramps up, allowing Kosmos to generate more earnings.

Additionally, Kosmos Energy Ltd. (NYSE:KOS) remains focused on achieving significant free cash flow of between $100 million and $150 million a quarter as it looks to reduce its debt levels.

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