Occidental Petroleum (OXY) Misses Q2 EPS by 11c

Occidental Petroleum (NYSE: OXY) reported Q2 EPS of $1.10, $0.11 worse than the analyst estimate of $1.21.

“With the early completion of our low oil price breakeven plan, outperformance across all three business segments and the expected sale of non-core domestic midstream assets, our priority is to use free cash flow to generate the greatest shareholder return,”said President and Chief Executive Officer Vicki Hollub.

“We remain committed to our dividend growth, have resumed our share repurchase program and are investing in our high-return Permian assets. Our world-class assets, combined with top-performing wells and takeaway capacity , afford us the unique opportunity to enhance our leadership position in the Permian Basin.

For earnings history and earnings-related data on Occidental Petroleum (OXY) click here.

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