Occidental Petroleum Corp reports results for the quarter ended June 30 - Earnings Summary

• Occidental Petroleum Corp OXY.N reported quarterly adjusted earnings of 39 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.03. The mean expectation of twenty one analysts for the quarter was for earnings of 29 cents per share. Wall Street expected results to range from 15 cents to 57 cents per share.

• Revenue fell 6.1% to $6.46 billion from a year ago; analysts expected $6.28 billion.

• Occidental Petroleum Corp's reported EPS for the quarter was 26 cents​.

• The company reported quarterly net income of $288 million.

• Occidental Petroleum Corp shares had risen by 2.5% this quarter and lost 12.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 41.2% in the last three months.​

• In the last 30 days, fifteen analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy," 17 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

• Wall Street's median 12-month price target for Occidental Petroleum Corp is $50.00, about 14.9% above its last closing price of $42.54

This summary was machine generated from LSEG data August 6 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)