Occidental Pet (NYSE:OXY)
Historical Stock Chart
6 Months : From Jun 2018 to Dec 2018
By Waverly Colville
Occidental Petroleum Corp. (OXY) reported increases in its net income and revenue as it grows its average daily oil production, the company said in its second quarter results released Wednesday.
Net income rose to $848 million, or $1.10 a share, from last year's $507 million, or 66 cents a share. Analysts polled by FactSet estimated $1.21 a share.
Revenue also rose to $4.13 billion from $3.6 billion a year prior, beating analysts' estimate of $4.03 billion.
The company grew its Permian Resources average daily production volumes by 46% to 201,000 BOE this quarter. It's also planning on completing $2 billion of share repurchases over the next 12 to 18 months.
Shares fell 2.7% in post-market trading Wednesday.
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(END) Dow Jones Newswires
August 08, 2018 18:39 ET (22:39 GMT)
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