Occidental (OXY) Down 5.2% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Occidental Petroleum . Shares have lost about 5.2% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Occidental due for a breakout?Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Oil and Gas revenues totaled $5.67 billion in the reported quarter, up 1.8% year over year.Chemical revenues amounted to $1.25 billion, down 4.8% year over year.Midstream & Marketing revenues of $282 million plunged 20.3% year over year.As of Sept. 30, 2024, Occidental had cash and cash equivalents of $1.76 billion compared with $1.4 billion as of Dec. 31, 2023.As of Sept. 30, 2024, the company had long-term debt of $25.46 billion compared with $18.5 billion as of Dec. 31, 2023. The company retired nearly $4 billion in debt in t
