Greenfire Resources (NYSE:GFR) Stock Price Up 4.9% – Time to Buy?

Greenfire Resources Ltd. (NYSE:GFR) was up 4.9% on Monday . The stock traded as high as $6.02 and last traded at $5.8440. Approximately 17,539 shares changed hands during trading, a decline of 90% from the average session volume of 171,819 shares. The stock had previously closed at $5.57.

Analysts Set New Price Targets

GFR has been the topic of a number of research reports. Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. TD Securities assumed coverage on Greenfire Resources in a research report on Tuesday, June 16th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada began coverage on Greenfire Resources in a report on Monday, July 6th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Greenfire Resources Price Performance

The company has a market capitalization of $766.00 million, a P/E ratio of -67.86 and a beta of 0.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54. The firm’s 50-day moving average is $5.78 and its 200-day moving average is $5.78.

Greenfire Resources (NYSE:GFR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.48). The business had revenue of $34.81 million during the quarter, compared to the consensus estimate of $104.27 million. Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.

Hedge Funds Weigh In On Greenfire Resources

A number of institutional investors have recently bought and sold shares of the stock. Deltroit Asset Management UK LLP purchased a new position in Greenfire Resources during the fourth quarter valued at $48,000. Raffles Associates LP purchased a new stake in Greenfire Resources in the fourth quarter worth about $50,000. WINTON GROUP Ltd bought a new position in shares of Greenfire Resources in the fourth quarter worth about $64,000. Jane Street Group LLC bought a new position in shares of Greenfire Resources in the fourth quarter worth about $74,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Greenfire Resources in the first quarter worth about $141,000. 88.89% of the stock is owned by institutional investors.

Greenfire Resources Company 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. The company is headquartered in Calgary, Canada.