Greenfire Resources Ltd. (NYSE:GFR – Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 569,617 shares were traded during trading, an increase of 221% from the previous session’s volume of 177,656 shares.The stock last traded at $6.4150 and had previously closed at $6.33.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Weiss Ratings cut Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Royal Bank Of Canada initiated coverage on Greenfire Resources in a report on Monday, July 6th. They issued a “hold” rating on the stock. Finally, TD Securities raised Greenfire Resources to a “strong-buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Greenfire Resources presently has an average rating of “Hold”.
View Our Latest Analysis on GFR
Greenfire Resources Stock Performance
Greenfire Resources (NYSE:GFR – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.48). The firm had revenue of $34.81 million during the quarter, compared to the consensus estimate of $104.27 million. Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.
Hedge Funds Weigh In On Greenfire Resources
Several hedge funds have recently added to or reduced their stakes in GFR. Moerus Capital Management LLC acquired a new position in shares of Greenfire Resources in the 4th quarter valued at approximately $8,082,000. BW Gestao de Investimentos Ltda. raised its holdings in Greenfire Resources by 95.8% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after buying an additional 1,613,198 shares during the period. Saber Capital Managment LLC bought a new position in Greenfire Resources in the fourth quarter valued at approximately $3,270,000. Bank of Montreal Can lifted its stake in Greenfire Resources by 165.8% in the fourth quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock valued at $4,821,000 after buying an additional 631,848 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its holdings in shares of Greenfire Resources by 88.8% in the fourth quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock valued at $4,024,000 after buying an additional 397,685 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.
Greenfire Resources Company 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. The company is headquartered in Calgary, Canada.
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