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While growth stocks have staged a strong comeback in 2023, several energy stocks have trailed the broader markets by a wide margin. In fact, falling oil prices have dragged valuations of energy stocks lower in recent months, increasing their dividend yields in the process.
Here are two quality, high-yield TSX energy stocks value investors can consider buying in February 2024.
Whitecap Resources stock
Down 52% from all-time highs, Whitecap Resources (TSX:WCP) currently offers you a dividend yield of 7%. Despite volatile oil prices in 2023, Whitecap managed to achieve its net debt milestone of $1.3 billion, and it now has the flexibility to return 75% of free funds flow to shareholders, including a base annual dividend of $0.73 per share.
Whitecap acquired XTO Energy Canada for $1.9 billion in the second half of 2022, after which it reduced net debt by more than $900 million and returned close to $450…
