Shares of Chord Energy Corp (CHRD) surged 5.93% in after-hours trading on Tuesday, following the release of the company's strong fourth quarter and full-year 2024 financial results.
Chord Energy reported better-than-expected Q4 adjusted earnings of $3.49 per diluted share, compared to analysts' estimates of $2.77. The company's revenue of $1.45 billion also exceeded expectations of $1.13 billion. The strong results were driven by higher oil volumes and solid cost control.
Additionally, Chord Energy announced a 4% increase in its quarterly base dividend to $1.30 per share, reflecting the company's strong cash flow generation and commitment to returning capital to shareholders. The company also repurchased $205 million worth of shares in Q4, representing around 3.5% of outstanding shares since closing the Enerplus combination.
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