12 Best Oil and Gas Penny Stocks to Invest in Now

5. Oil States International, Inc. (NYSE:OIS)

Number of Hedge Fund Holders: 21

Share Price as of April 16: $3.42

Oil States International, Inc. (NYSE:OIS) supplies advanced equipment and products for oil and gas operations like completion, production, and offshore drilling. The company works across three segments: Completion and Production Services, Downhole Technologies, and Offshore Manufactured Products. It serves energy, industrial, and defense markets worldwide, offering solutions including riser systems, perforation tools, and subsea infrastructure.

In Q4 ending December 31, 2024, Oil States International, Inc. (NYSE:OIS) reported $165 million in revenue and $19 million in adjusted EBITDA, driven by robust offshore demand. It beat expectations with $0.09 earnings per share while generating $18 million in operating cash and gaining $15.3 million pre-tax from selling an unused facility. For 2025, the company forecasts revenue of $700-735 million, EBITDA of $88-93 million, free cash flow of $40-50 million, and about $25 million in CapEx.

Furthermore, Oil States’ offshore-manufactured products grew 5% in Q4, bringing in $107 million. International and offshore revenue makes up 72% of the company’s portfolio, while U.S. land operations account for just 28%, demonstrating a critical focus on profitable markets. Oil States International, Inc. (NYSE:OIS) cut underperforming U.S. operations, trimming $41 million in revenue for 2024 but boosting efficiency.

Oil States International, Inc. (NYSE:OIS) is pushing tech-driven growth through managed pressure drilling systems and flex joint connectors. Its open architecture perforating tools are gaining ground in Latin America and Eastern markets. With solid financials and growing international contracts, this stock stands out among the best penny stocks.