| Occidental reports 3Q loss | |
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HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Wednesday reported a third-quarter loss of $2.61 billion, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $3.42 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 3 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The oil and gas exploration and production company posted revenue of $3.25 billion in the period.
Occidental shares have fallen 13 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has dropped 19 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXY at http://www.zacks.com/ap/OXY
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Keywords: Occidental Petroleum, Earnings Report
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 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. |