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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.