Occidental Petroleum's Profits Slump (but a Recovery Appears to Be Ahead)

The company delivered solid results, despite lower oil and gas prices.Occidental Petroleum's (OXY -2.14%) fortunes largely depend on oil and gas prices. Higher prices boost its profits, while sinking prices weigh on its earnings. The latter was the case in the first quarter. However, the oil company sees several catalysts on the horizon that could boost its earnings in the future. Here's a look at its recent quarter and why it's so optimistic about the future. Drilling down into Occidental Petroleum's first ...