Riviera Resources (RVRA) Moves to SELL
Riviera Resources (RVRA) just announced that it expects to have between $0MM and $30MM ($15MM at the midpoint) available to distribute at some point in 2021. This is down from its previous range of $0MM to $40MM. It appears that wind-down costs will be quite expensive. At the midpoint, a $15MM distribution works out to a $0.26 per-share potential distribution. As the stock is currently trading at $0.29, I recommend selling your Riviera shares. SELL.