Greenfire Resources Ltd. (NYSE:GFR) Position Lifted by K2 Principal Fund L.P.

K2 Principal Fund L.P. raised its stake in Greenfire Resources Ltd. (NYSE:GFR) by 146.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 50,003 shares of the company’s stock after purchasing an additional 29,700 shares during the period. K2 Principal Fund L.P. owned 0.07% of Greenfire Resources worth $338,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GFR. NewGen Asset Management Ltd acquired a new stake in shares of Greenfire Resources during the second quarter worth $878,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Greenfire Resources during the fourth quarter valued at approximately $406,000. Brigade Capital Management LP boosted its position in Greenfire Resources by 13.5% during the 4th quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock worth $28,555,000 after acquiring an additional 699,520 shares during the period. Scotia Capital Inc. purchased a new position in shares of Greenfire Resources during the 4th quarter valued at $222,000. Finally, BW Gestao de Investimentos Ltda. bought a new position in Greenfire Resources during the second quarter valued at approximately $1,120,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Greenfire Resources Stock Performance

NYSE GFR opened at $7.63 on Tuesday. The firm has a 50-day simple moving average of $7.06 and a 200 day simple moving average of $6.45. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.41. Greenfire Resources Ltd. has a twelve month low of $4.68 and a twelve month high of $8.03.

Greenfire Resources (NYSE:GFR) last posted its earnings results on Wednesday, August 14th. The company reported $0.31 earnings per share for the quarter. The business had revenue of $160.39 million during the quarter.

Analysts Set New Price Targets

Separately, BMO Capital Markets began coverage on shares of Greenfire Resources in a report on Thursday, June 13th. They issued an “outperform” rating and a $10.50 target price on the 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.