K2 Principal Fund L.P. Raises Stock Holdings in Greenfire Resources Ltd. $GFR

K2 Principal Fund L.P. raised its position in Greenfire Resources Ltd. (NYSE:GFR) by 88.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 845,285 shares of the company’s stock after buying an additional 397,685 shares during the quarter. K2 Principal Fund L.P.’s holdings in Greenfire Resources were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GFR. Royal Bank of Canada lifted its stake in Greenfire Resources by 6,363.6% in the first quarter. Royal Bank of Canada now owns 56,750 shares of the company’s stock valued at $333,000 after buying an additional 55,872 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its stake in Greenfire Resources by 95.8% in the second quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock valued at $14,704,000 after buying an additional 1,613,198 shares during the last quarter. MMCAP International Inc. SPC acquired a new position in shares of Greenfire Resources in the third quarter valued at approximately $1,148,000. UBS Group AG increased its holdings in shares of Greenfire Resources by 14.0% in the third quarter. UBS Group AG now owns 607,419 shares of the company’s stock valued at $2,806,000 after purchasing an additional 74,522 shares during the period. Finally, Louisbourg Investments Inc. increased its holdings in shares of Greenfire Resources by 12.0% in the fourth quarter. Louisbourg Investments Inc. now owns 597,344 shares of the company’s stock valued at $2,855,000 after purchasing an additional 63,965 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Greenfire Resources Trading Down 1.1%

Shares of GFR stock opened at $5.74 on Friday. The business’s fifty day moving average price is $6.01 and its 200 day moving average price is $5.63. Greenfire Resources Ltd. has a 1-year low of $4.10 and a 1-year high of $7.02. The firm has a market capitalization of $719.21 million, a PE ratio of -63.72 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.

Greenfire Resources (NYSE:GFR) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.22). Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.The business had revenue of $100.73 million for the quarter.

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.