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Occidental: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Occidental Petroleum Corp. (OXY) on Monday reported a loss of $3.58 billion in its third quarter.

The Houston-based company said it had a loss of $4.07 per share. Losses, adjusted for one-time gains and costs, came to 84 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 70 cents per share.

The oil and gas exploration and production company posted revenue of $3.28 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $4.27 billion.

Occidental shares have declined 70% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 10%. In the final minutes of trading on Monday, shares hit $12.23, a decrease of 69% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OXY at https://www.zacks.com/ap/OXY