Greenfire Resources (NYSE:GFR) Announces Earnings Results

Greenfire Resources (NYSE:GFR) issued its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.30, Zacks reports. Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.

Greenfire Resources Stock Performance

GFR stock traded down $0.05 on Wednesday, reaching $5.89. The company’s stock had a trading volume of 73,102 shares, compared to its average volume of 178,995. The firm has a fifty day moving average of $5.87 and a two-hundred day moving average of $5.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54. The company has a market capitalization of $738.66 million, a P/E ratio of -65.45 and a beta of 0.19. Greenfire Resources has a 52 week low of $4.14 and a 52 week high of $7.02.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GFR. TD Securities upgraded Greenfire Resources to a “strong-buy” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada began coverage on Greenfire Resources in a research report on Monday, July 6th. They set a “hold” rating for the company. Finally, Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Greenfire Resources presently has an average rating of “Hold”.

Hedge Funds Weigh In On Greenfire Resources

Several large investors have recently bought and sold shares of the stock. Raffles Associates LP bought a new position in Greenfire Resources during the 4th quarter valued at $50,000. WINTON GROUP Ltd acquired a new stake in Greenfire Resources in the 4th quarter valued at about $64,000. Jane Street Group LLC acquired a new position in shares of Greenfire Resources in the 4th quarter worth approximately $74,000. Goldman Sachs Group Inc. bought a new stake in shares of Greenfire Resources in the 4th quarter worth approximately $179,000. Finally, Royal Bank of Canada lifted its stake in Greenfire Resources by 158.7% during the fourth quarter. Royal Bank of Canada now owns 42,290 shares of the company’s stock valued at $201,000 after purchasing an additional 25,940 shares during the last quarter. 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.