RVRA - Riviera Resources: An Orphaned Spin-Off With 88%+ Upside

Summary

Riviera Resources (Riviera or RVRA) is an unlevered, orphaned oil and gas spin-off that is trading at a deep discount to its peers. It is covered by zero sell side analysts and trades over the counter. Once the company grows its midstream business, it will likely be sold or spun-off which will be a major catalyst. Some of the shrewdest investors in the world own over 50% of the stock, and the company is on track to buy back over 25% of shares outstanding. A conservative valuation implies 30% upside. A more optimistic valuation