Greenfire Resources (NYSE:GFR) Sees Strong Trading Volume

Greenfire Resources Ltd. (NYSE:GFR) saw unusually-strong trading volume on Thursday . Approximately 146,085 shares traded hands during trading, an increase of 140% from the previous session’s volume of 60,976 shares.The stock last traded at $7.56 and had previously closed at $7.53.

Analyst Ratings Changes

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

Greenfire Resources Stock Up 0.5 %

The business has a fifty day moving average of $7.05 and a 200-day moving average of $6.56. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 0.41.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GFR. Brigade Capital Management LP grew its stake in Greenfire Resources by 13.5% in the fourth quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock valued at $28,555,000 after purchasing an additional 699,520 shares during the last quarter. Sona Asset Management US LLC grew its position in shares of Greenfire Resources by 1.1% in the 1st quarter. Sona Asset Management US LLC now owns 5,019,641 shares of the company’s stock worth $29,992,000 after buying an additional 53,539 shares during the last quarter. Encompass Capital Advisors LLC lifted its position in Greenfire Resources by 21.4% during the second quarter. Encompass Capital Advisors LLC now owns 4,374,312 shares of the company’s stock valued at $29,527,000 after acquiring an additional 771,756 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Greenfire Resources in the second quarter valued at approximately $18,562,000. Finally, Luxor Capital Group LP grew its holdings in Greenfire Resources by 8.9% in the second quarter. Luxor Capital Group LP now owns 1,948,026 shares of the company’s stock worth $13,149,000 after purchasing an additional 159,900 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

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.