Recap: Occidental Petroleum Q1 Earnings

Shares of Occidental Petroleum OXY decreased 4.1% in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 71.15% over the past year to ($0.15), which beat the estimate of ($0.33).

Revenue of $5,479,000,000 declined by 15.07% year over year, which beat the estimate of $4,910,000,000.

Guidance

Occidental Petroleum Raises FY21 Total Year Pre-Tax Guidance For OxyChem To $1B

Technicals

Company's 52-week high was at $32.52

Company's 52-week low was at $8.52

Price action over last quarter: Up 0.73%

Company Profile

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2020, the company reported net proved reserves of 2.9 billion barrels of oil equivalent. Net production averaged 1,306 thousand barrels of oil equivalent per day in 2020 at a ratio of 74% oil and natural gas liquids and 26% natural gas.