This Oil Stock Is a Dirt-Cheap Buy
August wasn't a kind month for many oil stocks, but it was downright brutal to my No. 1 oil stock right now, Apache Corporation (NYSE: APA). The month started out with the stock market hammering Apache shares over a disappointing earnings report and ended with Apache's Houston headquarters being closed due to Hurricane Harvey. Apache finished the month down more than 20%, far worse than ConocoPhillips (NYSE: COP), which closed down just 2.4%.
But in spite of all that, I still think Apache stock is a buy. In fact, it may be a better buy than ever. Here's why.
The stock market has beaten up shares of oil and gas industry player Apache over the past year. Image source: Getty Images.
Source: Fool.com
ConocoPhillips Aktie
100,82 €
-1,80 %
Überwältigendes Buy-Interesse für ConocoPhillips: 32 Buy-Einschätzungen ohne eine einzige Sell-Einschätzung.
Ein prognostiziertes Kursziel von 134 € für ConocoPhillips zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 100.82 €.
