Occidental (NYSE:OXY) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Occidental announced earnings per share of $-0.52 on revenue of $6.45B. Analysts polled by anticipated EPS of $-0.62 on revenue of $5.17B. That with comparison to EPS of $0.84 on revenue of $4B in the same period a year before. Occidental had reported EPS of $-0.3 on revenue of $6.28B in the previous quarter. Analysts are expecting EPS of $-1.49 and revenue of $3.78B in the upcoming quarter.
Occidental shares are down 62.87% from the beginning of the year , still down 74.81% from its 52 week high of $60.73 set on May 8, 2019. They are under-performing the S&P 500 which is down 11.6% year to date.
Occidental shares gained 0.07% in after-hours trade following the report.
Occidental follows other major Energy sector earnings this month
Occidental's report follows an earnings beat by Exxon Mobil on Friday, who reported EPS of $0.53 on revenue of $56.16B, compared to forecasts EPS of $0.01 on revenue of $53.53B.
Chevron had beat expectations on Friday with first quarter EPS of $1.29 on revenue of $31.5B, compared to forecast for EPS of $0.65 on revenue of $29.14B.
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