Louisbourg Investments Inc. Buys 111,400 Shares of Greenfire Resources Ltd. $GFR

Louisbourg Investments Inc. grew its stake in Greenfire Resources Ltd. (NYSE:GFR) by 29.9% during the second quarter, Holdings Channel reports. The firm owned 483,379 shares of the company’s stock after purchasing an additional 111,400 shares during the period. Louisbourg Investments Inc.’s holdings in Greenfire Resources were worth $2,147,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Polar Asset Management Partners Inc. bought a new position in shares of Greenfire Resources in the first quarter valued at approximately $297,000. K2 Principal Fund L.P. bought a new stake in Greenfire Resources during the first quarter worth $602,000. Encompass Capital Advisors LLC lifted its holdings in Greenfire Resources by 18.6% during the first quarter. Encompass Capital Advisors LLC now owns 4,803,504 shares of the company’s stock worth $28,197,000 after acquiring an additional 754,571 shares during the period. BW Gestao de Investimentos Ltda. lifted its holdings in Greenfire Resources by 80.9% during the first quarter. BW Gestao de Investimentos Ltda. now owns 1,683,625 shares of the company’s stock worth $9,883,000 after acquiring an additional 753,033 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Greenfire Resources by 6,363.6% during the first quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock worth $333,000 after acquiring an additional 55,872 shares during the period. Institutional investors own 88.89% of the company’s stock.

Greenfire Resources Stock Performance

NYSE:GFR opened at $4.59 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.82 and a quick ratio of 2.54. The business has a fifty day simple moving average of $4.79 and a two-hundred day simple moving average of $4.72. Greenfire Resources Ltd. has a 1 year low of $3.81 and a 1 year high of $8.16. The company has a market capitalization of $318.52 million, a P/E ratio of 2.25 and a beta of 0.27.

Greenfire Resources (NYSE:GFR) last released its earnings results on Wednesday, August 13th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. Greenfire Resources had a return on equity of 24.62% and a net margin of 28.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GFR. Weiss Ratings reiterated a “sell (d+)” rating on shares of Greenfire Resources in a report on Wednesday. BMO Capital Markets lowered Greenfire Resources from an “outperform” rating to a “market perform” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Greenfire Resources has a consensus rating of “Reduce”.

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.