Greenfire Resources Ltd. (NYSE:GFR) Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC reduced its position in shares of Greenfire Resources Ltd. (NYSE:GFR) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,048,933 shares of the company’s stock after selling 318,359 shares during the period. Encompass Capital Advisors LLC owned 5.83% of Greenfire Resources worth $28,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GFR. Cubist Systematic Strategies LLC acquired a new stake in Greenfire Resources during the fourth quarter worth approximately $100,000. Citadel Advisors LLC lifted its stake in shares of Greenfire Resources by 27.5% during the 4th quarter. Citadel Advisors LLC now owns 79,766 shares of the company’s stock worth $563,000 after purchasing an additional 17,203 shares during the period. BW Gestao de Investimentos Ltda. boosted its holdings in shares of Greenfire Resources by 41.0% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 930,592 shares of the company’s stock worth $6,570,000 after purchasing an additional 270,773 shares during the last quarter. Bank of America Corp DE grew its position in shares of Greenfire Resources by 2,839.7% in the fourth quarter. Bank of America Corp DE now owns 79,371 shares of the company’s stock valued at $560,000 after purchasing an additional 76,671 shares during the period. Finally, Webs Creek Capital Management LP increased its stake in Greenfire Resources by 255.0% in the fourth quarter. Webs Creek Capital Management LP now owns 355,000 shares of the company’s stock valued at $2,506,000 after purchasing an additional 255,000 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Greenfire Resources in a research note on Wednesday.

Greenfire Resources Trading Up 12.3 %

Shares of GFR stock opened at $4.43 on Friday. The firm’s 50 day moving average price is $5.05 and its two-hundred day moving average price is $6.25. The company has a quick ratio of 0.58, a current ratio of 0.67 and a debt-to-equity ratio of 0.30. Greenfire Resources Ltd. has a fifty-two week low of $3.31 and a fifty-two week high of $8.16. The stock has a market cap of $307.40 million, a price-to-earnings ratio of 12.64 and a beta of 0.31.

Greenfire Resources (NYSE:GFR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.16). The firm had revenue of $123.16 million for the quarter. Greenfire Resources had a net margin of 5.02% and a return on equity of 5.40%.

Greenfire Resources Profile

Greenfire Resources Ltd., together with its subsidiaries, engages in the development, exploration, and operation of oil and gas properties in the Athabasca oil sands region of Alberta. The company operates the Tier-1 oil sands assets located in Western Canada. It utilizes steam-assisted gravity drainage (SAGD) extraction technology, a situ thermal oil recovery process to recover diluted and non- diluted bitumen.