Shares of Occidental Petroleum (OXY) fell almost 5% over the past trading week. The energy company reported its third quarter results on Thursday before the market open.
Third Quarter Results
Occidental Petroleum reported third quarter revenues of $5.97 billion, down 0.7% on the year. Production increases could not entirely offset the impact of lower prices, notably in US natural gas.
The company reported income from continuing operations of $1.38 billion compared to $1.77 billion last year. Earnings per diluted share fell from $2.18 per share in 2011 to $1.69 per share over the past quarter. On average, analysts were looking for Occidental to earn $1.63 per share over the past quarter.
Read the entire article on Seekingalpha by clicking the following link
No comments:
Post a Comment