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Riverstone Energy ( (GB:RSE) ) has issued an announcement.
Riverstone Energy Limited, a company involved in investment activities, has completed a secondary public offering of its shares in Permian Resources Corporation. The company sold its entire investment of 10,052,173 shares at a price of $13.46 per share, resulting in gross proceeds of $135 million. Along with the sale of its investment in Whitecap Resources, Riverstone Energy expects to return a substantial portion of the approximately $200 million proceeds to shareholders through a pro rata compulsory redemption of ordinary shares, as part of its managed wind-down investment policy.
Spark’s Take on GB:RSE Stock
According to Spark, TipRanks’ AI Analyst, GB:RSE is a Neutral.
Riverstone Energy Limited’s overall stock score is primarily impacted by its ongoing financial struggles, notably negative revenue and cash flow. While a strong balance sheet and strategic share buybacks provide some stability, the bearish technical indicators and poor valuation metrics suggest a cautious outlook. Improvement in core financial metrics is essential for attracting investors and achieving a more favorable stock score.
To see Spark’s full report on GB:RSE stock, click here.
More about Riverstone Energy
Average Trading Volume: 55,355
Technical Sentiment Signal: Buy
For detailed information about RSE stock, go to TipRanks’ Stock Analysis page.