Jefferies: Range Resources Largely In-Line with Estimates

In a research report published earlier today, Jefferies said that Range Resources

4Q results were largely in-line with estimates. “EPS in-line... reported adjusted q4 eps of $0.33 versus consensus of $0.31 and JEF of $0.35. Production of 625 mmcfe/d was pre-announced. Realizations of $5.77/mcfe were above our $5.45/mcfe estimate. Costs were generally higher with LOE, exploration, G&A, and DD&A coming in a combined $31 million above our expectation. Headline eps loss of ($0.02) included $56 million of after-tax non-recurring losses,” Jefferies explained in the report. Jefferies maintains its Hold rating and $61 PT on Range Resources, which closed yesterday at $64.27.