No. of Recommendations: 4
Occidental Petro beats by $0.07, beats on revs; increased quarterly dividend by 22% to $0.22/share
Reports Q4 (Dec) earnings of $0.74 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.67; revenues fell 9.6% year/year to $7.53 bln vs the $6.93 bln FactSet Consensus.
Capital spending of $1,544 million and contributions from noncontrolling interest of $98 million, resulting in quarterly free cash flow before working capital of $1.1 billion.
Total company production of 1,234 Mboed exceeded the mid-point of guidance by 8 Mboed, overcoming a third-party outage in eastern Gulf of Mexico.
Co increased quarterly dividend by 22% to $0.22/share
