| Occidental misses Street 2Q forecasts | |
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HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Thursday reported second-quarter profit of $176 million.
The Houston-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring gains, came to 21 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The oil and gas exploration and production company posted revenue of $3.51 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $3.9 billion.
Occidental shares have declined 12 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has decreased 29 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXY at http://www.zacks.com/ap/OXY
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Keywords: Occidental Petroleum, Earnings Report
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 38.2 billions as of today (€ 34.3 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. |