UPDATE: EV Energy Partners Holds On To Losses, Down 6% As Q4 Revenue Misses
EV Energy Partners ( EVEP ) is down 6.2% to $52.54 in afternoon trading, after reporting a Q4 loss of $0.23 per share, compared with $0.27 EPS in the prior-year period.
The results include one-time items and may not be comparable to the Capital IQ consensus of $0.47 EPS. Revenues were $75.5 mln, up 13% from $66.8 mln in the same period last year, and below the analyst estimate of $85.3 mln.
Production for the quarter was 10.8 Bcf of natural gas, 277 MBbls of oil and 476 MBbls of natural gas liquids, or 15.3 Bcfe. This represents a 38% increase over Q4 2011 production of 11.1 Bcfe and a 2% increase over Q3 2012 production of 15 Bcfe.
The shares opened lower, slipped further in mid-morning and continued to trade at the lower end of the day's range. Its 52-week range has been $43.56 to $73.75.
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