SPGYF - Whitecap Resources: Dividend At A Discount
Despite the recovery of the Canadian oil prices since the beginning of the year, Whitecap's (OTCPK:SPGYF) stock price stayed close to the low levels of the end of 2018.
But the Q4 results, released last week, show the company still operated at a profit during the depressed Canadian oil prices environment. The low-cost structure and the hedges contributed to the positive netbacks.
With moderate oil prices assumptions, the dividend is safe. And, based on several valuation methods, the market values the company at a discount.
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