Greenfire Resources (NYSE:GFR – Get Free Report) was downgraded by analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.
Several other research analysts have also weighed in on the company. TD Securities lowered Greenfire Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday. Weiss Ratings raised Greenfire Resources from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $11.50.
Get Our Latest Stock Report on Greenfire Resources
Greenfire Resources Stock Up 0.4%
NYSE GFR opened at $7.71 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. Greenfire Resources has a 1-year low of $4.15 and a 1-year high of $7.81. The firm’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $6.14.
Institutional Trading of Greenfire Resources
Institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP bought a new stake in shares of Greenfire Resources in the 2nd quarter worth about $60,000. Oppenheimer & Close LLC acquired a new stake in shares of Greenfire Resources during the 3rd quarter worth about $66,000. StoneX Group Inc. bought a new position in Greenfire Resources during the 3rd quarter valued at about $87,000. Mraz Amerine & Associates Inc. bought a new position in Greenfire Resources during the 3rd quarter valued at about $87,000. Finally, Turtle Creek Wealth Advisors LLC lifted its holdings in Greenfire Resources by 47.4% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 49,750 shares of the company’s stock valued at $281,000 after purchasing an additional 16,000 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.
Greenfire Resources Company Profile
Greenfire Resources Ltd. is a Canadian energy company focused on developing and producing bitumen from oil sands in Alberta. Its operations use steam-assisted gravity drainage (SAGD), a thermal recovery method used to extract bitumen from underground deposits. The company’s principal asset is the Hangingstone oil sands project, south of Fort McMurray. Greenfire’s production is bitumen, which can be processed or blended for transportation and refining. Greenfire’s business is concentrated in Alberta, where it operates and seeks to develop its thermal oil sands assets.
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