Occidental Petroleum's Profits Slump (but a Recovery Appears to Be Ahead) [Yahoo! Finance]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Yahoo! Finance
The latter was the case in the first quarter. However, the oil company sees several catalysts on the horizon that could boost its earnings in the future. Here's a look at its recent quarter and why it's so optimistic about the future. Drilling down into Occidental Petroleum's first-quarter earnings Occidental Petroleum reported $604 million, or $0.63 per share, of adjusted net income in the first quarter That was down from the fourth quarter ($710 million or $0.74 per share) and the year-ago period ($1.1 billion or $1.09 per share). The primary issue was lower oil and gas prices. The company's oil and gas segment reported $1.2 billion of pre-tax income, down from $1.6 billion in the fourth quarter. Occidental sold its oil at an average of $76.04 per barrel in the period , down 4% from the fourth quarter. It also captured a much lower price for its natural gas output (down 14%). Production was around what it anticipated, at nearly 1.2 million barrels of oil equivalent per day
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OXY
Earnings
- 5/7/24 - Beat
OXY
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- 5/7/24 - Form 4
- OXY's page on the SEC website