This Oil Stock Is a Dirt-Cheap Buy

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.

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Source: Fool.com