Greenfire Resources (NYSE:GFR) Upgraded at TD Securities

TD Securities upgraded shares of Greenfire Resources (NYSE:GFR) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Royal Bank Of Canada began coverage on Greenfire Resources in a research report on Monday, July 6th. They issued a “hold” rating for the company. Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Greenfire Resources has a consensus rating of “Hold”.

Greenfire Resources Price Performance

Shares of GFR stock opened at $6.50 on Thursday. 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 company has a market capitalization of $815.79 million, a PE ratio of -72.27 and a beta of 0.20. The firm’s 50-day moving average is $5.85 and its two-hundred day moving average is $5.86. Greenfire Resources has a 12 month low of $4.14 and a 12 month high of $7.02.

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

Institutional Investors Weigh In On Greenfire Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deltroit Asset Management UK LLP purchased a new position in Greenfire Resources in the 4th quarter valued at about $48,000. Raffles Associates LP purchased a new stake in shares of Greenfire Resources during the fourth quarter worth about $50,000. WINTON GROUP Ltd acquired a new position in shares of Greenfire Resources in the fourth quarter worth about $64,000. Jane Street Group LLC acquired a new position in shares of Greenfire Resources in the fourth quarter worth about $74,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Greenfire Resources by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 128,300 shares of the company’s stock worth $611,000 after acquiring an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s 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. The company is headquartered in Calgary, Canada.