Greenfire Resources (NYSE:GFR) Upgraded at TD Securities

Greenfire Resources (NYSE:GFR) was upgraded by equities researchers at TD Securities to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Royal Bank Of Canada assumed coverage on Greenfire Resources in a report on Monday, July 6th. They set a “hold” rating on the stock. One 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 data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Greenfire Resources Trading Down 1.9%

Shares of NYSE GFR opened at $6.50 on Thursday. The firm’s 50 day moving average price is $5.85 and its 200-day moving average price is $5.86. The company has a market cap of $815.79 million, a PE ratio of -72.27 and a beta of 0.20. Greenfire Resources has a 52-week low of $4.14 and a 52-week high of $7.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.66.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.48). The firm had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $104.27 million. Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%.

Institutional Investors Weigh In On Greenfire Resources

A number of large investors have recently added to or reduced their stakes in the stock. Militia Capital Management LLC purchased a new stake in Greenfire Resources during the 1st quarter valued at $1,637,000. Bank of America Corp DE boosted its stake in shares of Greenfire Resources by 2,709.5% in the 1st quarter. Bank of America Corp DE now owns 42,142 shares of the company’s stock worth $266,000 after buying an additional 40,642 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Greenfire Resources by 25.7% in the first quarter. Renaissance Technologies LLC now owns 161,262 shares of the company’s stock worth $1,019,000 after acquiring an additional 32,962 shares during the period. Moerus Capital Management LLC grew its holdings in shares of Greenfire Resources by 37.9% in the first quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock worth $14,838,000 after acquiring an additional 642,312 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Greenfire Resources in the first quarter worth $378,000. Institutional investors own 88.89% of the company’s stock.

About Greenfire Resources

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.