Ninepoint Partners LP Sells 800,000 Shares of Greenfire Resources Ltd. (NYSE:GFR)

Ninepoint Partners LP lowered its position in shares of Greenfire Resources Ltd. (NYSE:GFR) by 28.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,000,000 shares of the company’s stock after selling 800,000 shares during the quarter. Greenfire Resources accounts for about 2.1% of Ninepoint Partners LP’s holdings, making the stock its 11th biggest position. Ninepoint Partners LP’s holdings in Greenfire Resources were worth $14,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the company. Louisbourg Investments Inc. bought a new stake in Greenfire Resources during the fourth quarter valued at $1,787,000. JPMorgan Chase & Co. bought a new stake in Greenfire Resources during the third quarter valued at $29,000. Luxor Capital Group LP boosted its position in Greenfire Resources by 45.6% during the third quarter. Luxor Capital Group LP now owns 2,836,592 shares of the company’s stock valued at $21,133,000 after acquiring an additional 888,566 shares during the last quarter. Jane Street Group LLC bought a new stake in Greenfire Resources during the third quarter valued at $111,000. Finally, Wexford Capital LP bought a new stake in Greenfire Resources during the third quarter valued at $5,845,000. Institutional investors own 88.89% of the company’s stock.

Greenfire Resources Stock Performance

Shares of GFR opened at $4.94 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $342.82 million, a P/E ratio of 14.10 and a beta of 0.29. The firm’s fifty day simple moving average is $6.36 and its two-hundred day simple moving average is $6.90. Greenfire Resources Ltd. has a 12 month low of $4.82 and a 12 month high of $8.16.

Greenfire Resources 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.