Greenfire Resources (NYSE:GFR) Stock Price Up 5.1% – Should You Buy?
by Kim Johansen · The Markets DailyGreenfire Resources Ltd. (NYSE:GFR – Get Free Report)’s stock price traded up 5.1% during mid-day trading on Wednesday . The company traded as high as $6.55 and last traded at $6.5450. 1,692,111 shares were traded during mid-day trading, an increase of 520% from the average daily volume of 272,920 shares. The stock had previously closed at $6.23.
Analyst Ratings Changes
GFR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Greenfire Resources in a research report on Thursday, August 13th. Royal Bank Of Canada started coverage on shares of Greenfire Resources in a research report on Monday, July 6th. They set a “hold” rating for the company. TD Securities upgraded shares of Greenfire Resources to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets upgraded shares of Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price objective for the company in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Greenfire Resources presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.
Check Out Our Latest Analysis on Greenfire Resources
Greenfire Resources Stock Up 4.1%
The firm has a market capitalization of $813.28 million, a PE ratio of -23.09 and a beta of 0.18. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $6.20 and a 200 day simple moving average of $6.09.
Greenfire Resources (NYSE:GFR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.30. The firm had revenue of $123.86 million for the quarter, compared to analysts’ expectations of $107.41 million. Greenfire Resources had a negative return on equity of 3.50% and a negative net margin of 6.36%.
Institutional Trading of Greenfire Resources
Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Greenfire Resources by 6,363.6% in 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. lifted its holdings in Greenfire Resources by 95.8% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after purchasing an additional 1,613,198 shares in the last quarter. UBS Group AG boosted its stake in Greenfire Resources by 14.0% in the 3rd quarter. UBS Group AG now owns 607,419 shares of the company’s stock worth $2,806,000 after purchasing an additional 74,522 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Greenfire Resources during the fourth quarter valued at approximately $179,000. Finally, Cibc World Market Inc. bought a new stake in Greenfire Resources in the 4th quarter valued at $565,000. 88.89% of the stock is currently 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.