| Occidental misses Street 3Q forecasts | |
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TEXAS, Texas (AP) _ Occidental Petroleum Corp. (OXY) on Thursday reported profit of $1.21 billion in its third quarter.
The Texas, Texas-based company said it had profit of $1.55 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.58 per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
The oil and gas exploration and production company posted revenue of $6 billion in the period, also falling short of Street forecasts. Analysts expected $6.16 billion, according to Zacks.
Occidental shares have fallen nearly 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 4 percent. The stock has dropped slightly more than 8 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. OXY stock research report from Zacks: http://www.zacks.com/ap/OXY
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Keywords:Occidental,Earnings Report
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 51.8 billions as of today (€ 48.4 billions). Its stock quote reached its highest recent level on March 16, 2012 at US$ 99.99, and its lowest recent point on October 16, 2020 at US$ 10.00. Occidental Petroleum has 764 580 032 shares outstanding. |