Greenfire Resources (NYSE:GFR) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Greenfire Resources (NYSE:GFR) posted its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, topping 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%.

Greenfire Resources Trading Down 1.2%

NYSE GFR traded down $0.07 during mid-day trading on Wednesday, reaching $5.87. 80,951 shares of the stock were exchanged, compared to its average volume of 178,995. The stock has a market cap of $736.03 million, a P/E ratio of -65.27 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. Greenfire Resources has a one year low of $4.14 and a one year high of $7.02. The stock has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $5.94.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Securities upgraded shares of Greenfire Resources to a “strong-buy” rating in a report on Thursday, July 23rd. Royal Bank Of Canada assumed coverage on Greenfire Resources in a report on Monday, July 6th. They set a “hold” rating on the stock. Finally, Weiss Ratings lowered Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GFR. Royal Bank of Canada grew its stake in Greenfire Resources by 6,363.6% during the first quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock worth $333,000 after purchasing an additional 55,872 shares during the period. BW Gestao de Investimentos Ltda. grew its position in shares of Greenfire Resources by 95.8% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after buying an additional 1,613,198 shares during the period. UBS Group AG increased its stake in shares of Greenfire Resources by 14.0% in the 3rd quarter. UBS Group AG now owns 607,419 shares of the company’s stock valued at $2,806,000 after acquiring an additional 74,522 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Greenfire Resources during the 4th quarter valued at $179,000. Finally, Cibc World Market Inc. acquired a new position in shares of Greenfire Resources during the 4th quarter valued at $565,000. 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. The company is headquartered in Calgary, Canada.