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Why Occidental Petroleum (OXY) Stock is Declining Today

NEW YORK (TheStreet) -- Shares of Occidental Petroleum (OXY - Get Report) are down by 2.16% to $70.11 in afternoon trading on Tuesday, as the company is expected to report a sharp year over year decline in earnings and revenue for the 2015 third quarter.

The company will release its latest financial results before the market open on Wednesday morning.

Additionally, falling oil prices are also weighing on Occidental Petroleum's stock today. The company is a Houston-based oil and gas exploration and production company.

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Analysts surveyed by Thomson Reuters are expecting the company to report a loss of 1 cent per share on revenue of $3.2 billion for the most recent quarter. Occidental Petroleum's earnings came in at $1.58 per share on revenue of $5.96 billion for the 2014 third quarter.

Oil prices are down today due to concerns regarding the global supply glut and...


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