Yes, I've been doing so, but not with Braveheart-grade ferocity and fervour.
I think it's merely an OK investment proposition; inflation-beating, yes, but not something that is going to return multiples of CPI.
Because while, at its current 6.7% DY, it might look very attractive in the context of the past 10 year history, the bulk of that period coincided with very low interest rates and bond-yields (for which APA is a proxy).
So looking at the DY spreads over bond-yields (forget about the hatched, lighter-shaded 2020 and 2021 columns; they are greatly distorted by Covid monetary conditions), it appears to this little pilgrim that the stock is appropriately priced, maybe a tad cheap.
Of course, if one is able to form a firm view that inflation is dead, which means that bond yields are going to pare back meaningfully (I am unable to pick a dog in the inflation fight), then, yeah, the stock is a strong buy... in other words, a reversal of the 2022 and early 2023 situation, when the share price was at record highs before yields started soaring.
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$7.88 |
Change
-0.020(0.25%) |
Mkt cap ! $10.13B |
Open | High | Low | Value | Volume |
$7.95 | $7.95 | $7.84 | $9.686M | 1.225M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 17333 | $7.87 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.88 | 4505 | 19 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
32 | 15569 | 7.870 |
19 | 24279 | 7.860 |
20 | 33536 | 7.850 |
20 | 97942 | 7.840 |
12 | 16795 | 7.830 |
Price($) | Vol. | No. |
---|---|---|
7.880 | 5613 | 20 |
7.890 | 18672 | 25 |
7.900 | 20156 | 18 |
7.910 | 20317 | 14 |
7.920 | 38548 | 14 |
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