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Occidental Petroleum Beats Q4 Earnings Estimates By 67%
Occidental Petroleum (NYSE:OXY) reported strong Q4 earnings of 31 cents per share, significantly beating analyst estimates of 18 cents by 67.57%. The company also saw a 2.71% rise in stock price in extended trading and highlighted its focus on operational excellence, cost efficiency, and debt reduction. CEO Vicki Hollub emphasized the outperformance in production and operating expenses, while the company also strengthened its balance sheet by reducing debt by $5.8 billion.