Greenfire Resources (NYSE:GFR) Announces Quarterly Earnings Results

Greenfire Resources (NYSE:GFR) announced its quarterly earnings results on Wednesday. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.01 by $0.30, Zacks reports. Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%. The firm had revenue of $123.86 million during the quarter, compared to the consensus estimate of $107.41 million.

Greenfire Resources Trading Up 9.8%

NYSE GFR traded up $0.57 during trading on Thursday, hitting $6.42. 232,332 shares of the company’s stock traded hands, compared to its average volume of 179,427. The stock has a fifty day moving average of $5.87 and a two-hundred day moving average of $5.95. Greenfire Resources has a 12-month low of $4.14 and a 12-month high of $7.02. The firm has a market cap of $805.74 million, a P/E ratio of -71.38 and a beta of 0.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GFR. TD Securities upgraded Greenfire Resources to a “strong-buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada started coverage on shares of Greenfire Resources in a research note on Monday, July 6th. They issued a “hold” rating on the stock. Weiss Ratings lowered shares of Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. Finally, BMO Capital Markets upgraded shares of Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price objective on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Institutional Investors Weigh In On Greenfire Resources

A number of hedge funds and other institutional investors have recently modified their holdings of GFR. Renaissance Technologies LLC increased its stake in Greenfire Resources by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 128,300 shares of the company’s stock worth $611,000 after purchasing an additional 17,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Greenfire Resources by 83.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,181 shares of the company’s stock worth $377,000 after purchasing an additional 36,018 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Greenfire Resources by 165.8% in the fourth quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock worth $4,821,000 after purchasing an additional 631,848 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of Greenfire Resources in the fourth quarter worth $565,000. Finally, UBS Group AG raised its holdings in Greenfire Resources by 14.0% during the 3rd quarter. UBS Group AG now owns 607,419 shares of the company’s stock valued at $2,806,000 after buying an additional 74,522 shares during the last quarter. Institutional investors 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.