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HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Thursday reported a fourth-quarter loss of $3.41 billion, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $4.41 per share. Earnings, adjusted for one-time gains and costs, came to 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The oil and gas exploration and production company posted revenue of $4.31 billion in the period.
For the year, the company reported profit of $616 million, or 79 cents per share. Revenue was reported as $19.31 billion.
Occidental shares have decreased 5 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased nearly 3 percent. The stock has declined 13 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXY at http://www.zacks.com/ap/OXY
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Keywords: Occidental Petroleum, Earnings Report
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 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. |