Summer heat gives Apache a boost

Article Excerpt

APACHE CORP. $14 is still a hold, but only for aggressive investors. The company (New York symbol APA; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 377.4 million; Market cap: $5.3 billion; Price-to-sales ratio: 1.1; Dividend yield: 0.7%; TSINetwork Rating: Average; produces oil and natural gas from properties in the U.S., Egypt and the U.K. The stock has regained some of its recent losses after falling to just $3.80 in March 2020, with the start of the COVID-19 pandemic, from $34 in January 2020. The recent rise is largely because heat waves in parts of the U.S. have increased use of air conditioning and spurred electricity demand; a lot of that power comes from gas-fired plants. However, gas prices will probably weaken again as the weather cools. Apache is a hold. hold…

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