Greenfire Resources Ltd. (NYSE:GFR – Get Free Report) traded down 5.3% on Wednesday . The company traded as low as $6.63 and last traded at $6.56. 524,062 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 333,191 shares. The stock had previously closed at $6.93.
Wall Street Analyst Weigh In
Several brokerages recently commented on GFR. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Greenfire Resources in a research note on Thursday, August 13th. TD Securities upgraded shares of Greenfire Resources to a “strong-buy” rating in a report on Thursday, July 23rd. BMO Capital Markets upgraded Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price target on the stock in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada initiated coverage on Greenfire Resources in a research note on Monday, July 6th. They set a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Greenfire Resources has an average rating of “Moderate Buy” and an average target price of $11.50.
Get Our Latest Analysis on Greenfire Resources
Greenfire Resources Price Performance
Greenfire Resources (NYSE:GFR – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.30. The company had revenue of $123.86 million during the quarter, compared to the consensus estimate of $107.41 million. Greenfire Resources had a negative net margin of 6.36% and a negative return on equity of 3.50%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Moerus Capital Management LLC boosted its holdings in Greenfire Resources by 37.9% in the 1st quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock worth $14,838,000 after buying an additional 642,312 shares during the period. K2 Principal Fund L.P. lifted its position 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 acquiring an additional 397,685 shares in the last quarter. Saber Capital Managment LLC purchased a new position in shares of Greenfire Resources in the fourth quarter valued at about $3,270,000. UBS Group AG grew its holdings in Greenfire Resources by 7.3% during the 4th quarter. UBS Group AG now owns 652,017 shares of the company’s stock valued at $3,104,000 after buying an additional 44,598 shares in the last quarter. Finally, Aegis Financial Corp raised its position in shares of Greenfire Resources by 133.1% during the first quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock valued at $2,639,000 after buying an additional 238,417 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.
About Greenfire Resources
Greenfire Resources Ltd. (NYSE: GFR) is a Canadian energy company focused on the development and production of bitumen from the Athabasca oil sands in Alberta, Canada. The company’s operations are centered on thermal oil sands projects that use steam-assisted gravity drainage (SAGD) technology to recover bitumen from underground reservoirs.
Greenfire’s principal assets include the Hangingstone Expansion and Hangingstone Demonstration projects, located south of Fort McMurray, Alberta. The company operates its facilities and produces bitumen, which can be transported to market for upgrading or refining into crude oil and other petroleum products.
The company has historically focused on advancing oil sands assets with established infrastructure and production potential.
Further Reading
- Five stocks we like better than Greenfire Resources
- Qualcomm’s Discount Could Vanish If Its AI Bet Pays Off
- Micron’s AI Memory Boom Could Send Shares 100% Higher
- Apple Stock Surges After Its Biggest Product Launch in Years—Can It Last?
- The Ultimate Cyber Shield: CrowdStrike Rises Past $235
Receive News & Ratings for Greenfire Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenfire Resources and related companies with MarketBeat.com's FREE daily email newsletter.
