Occidental: 4Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Monday reported a loss of $1.11 billion in its fourth quarter.

On a per-share basis, the Houston-based company said it had a loss of $1.41. Losses, adjusted for one-time gains and costs, were 78 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.

The oil and gas exploration and production company posted revenue of $3.35 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.31 billion.

For the year, the company reported that its loss widened to $14.83 billion, or $17.06 per share. Revenue was reported as $16.26 billion.

Occidental shares have risen 53% since the beginning of the year, while the Standard & Poor's 500 index has risen 3%. In the final minutes of trading on Monday, shares hit $26.47, a fall of 38% in the last 12 months.

_____

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 https://www.zacks.com/ap/OXY