Greenfire Resources (NYSE:GFR) Announces Quarterly Earnings Results

Greenfire Resources (NYSE:GFR) released its quarterly earnings data on Thursday. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.22), Zacks reports. Greenfire Resources had a net margin of 20.20% and a return on equity of 15.64%. The company had revenue of $100.73 million for the quarter.

Greenfire Resources Stock Performance

Shares of GFR stock traded down $0.37 during mid-day trading on Friday, reaching $5.95. 417,449 shares of the company’s stock traded hands, compared to its average volume of 108,009. Greenfire Resources has a 12 month low of $3.81 and a 12 month high of $6.93. The firm has a 50 day moving average price of $5.58 and a two-hundred day moving average price of $5.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.05 and a current ratio of 2.27. The firm has a market capitalization of $413.55 million, a PE ratio of 4.41 and a beta of 0.27.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GFR shares. Wall Street Zen raised Greenfire Resources to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Greenfire Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Greenfire Resources has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GFR. Raffles Associates LP bought a new stake in shares of Greenfire Resources during the fourth quarter valued at approximately $50,000. WINTON GROUP Ltd purchased a new position in Greenfire Resources during the fourth quarter valued at $64,000. Jane Street Group LLC purchased a new position in Greenfire Resources during the fourth quarter valued at $74,000. Goldman Sachs Group Inc. bought a new stake in Greenfire Resources in the 4th quarter valued at $179,000. Finally, Royal Bank of Canada increased its holdings in Greenfire Resources by 158.7% in the 4th quarter. Royal Bank of Canada now owns 42,290 shares of the company’s stock valued at $201,000 after acquiring an additional 25,940 shares during the last quarter. 88.89% of the stock is currently 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.