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HOUSTON - Chord Energy Corporation (NASDAQ:CHRD) reported fourth-quarter earnings and revenue that surpassed analyst expectations, sending shares up 2.7% in after-hours trading.
The oil and gas producer posted adjusted earnings per share of $3.49, beating the consensus estimate of $2.96. Revenue came in at $1.45 billion, significantly above analysts’ projections of $1.12 billion.
Chord’s oil production averaged 153,300 barrels per day in Q4, near the high end of its guidance range. Total (EPA:TTEF) production reached 273,500 barrels of oil equivalent per day, exceeding the company’s forecast.
"Fourth quarter performance was the latest in a series of strong quarters, with higher than expected production supported by solid execution and excellent well results, all while maintaining a focus on cost control," said CEO Danny Brown.
The company increased its quarterly base dividend by 4% to $1.30 per share. Chord also repurchased $205 million worth of shares in Q4, representing 100% of adjusted free cash flow after the base dividend payment.
For full-year 2025, Chord expects oil production of 150,300 to 154,800 barrels per day and capital expenditures of $1.34 billion to $1.46 billion.
"Our low-cost inventory, capital efficient development program, and strong balance sheet support sustainable free cash flow generation and high shareholder returns," Brown added.
Chord ended 2024 with $37 million in cash and $845 million in total debt. The company recently increased its credit facility to $2 billion in elected commitments.
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