Occidental Petroleum Reports Q4 Loss, Beats Earnings Expectations

HOUSTON, TX - Occidental Petroleum Corp. (OXY) today announced a $127 million loss for its fourth quarter, or 32 cents per share. However, excluding non-recurring costs, the company reported adjusted earnings of 80 cents per share, exceeding analyst estimates of 67 cents per share.

OXY's revenue for the quarter totaled $6.84 billion, falling short of the $7.14 billion predicted by analysts.

Despite the revenue miss, the earnings beat has boosted investor sentiment. The company's stock is currently trading up 1.62%.

OXY is an oil and gas exploration and production company headquartered in Houston, Texas.