Occidental Petroleum rises after quarterly profit beat

Shares of shale producer Occidental Petroleum OXY.N rise over 4% to $44.26

Company on Wednesday beat estimates for second-quarter profit, helped by higher production

OXY reported Q2 adj. profit of 39 cents per share, vs estimates of 29 cents per share, according to data compiled by LSEG

Company also disclosed $950 million of additional divestitures since the start of Q2, of which $370 million already closed

Divestitures also include sale of an entity that owns certain gas gathering assets in the Midland Basin to a unit of Enterprise Products Partners EPD.N for $580 million

TPH&Co analyst Matt Portillo says reduction in capital expenditure and asset sales were "good to see"

Including session's moves, stock is down 10.4% YTD