Greenfire Resources (NYSE:GFR) Research Coverage Started at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Greenfire Resources (NYSE:GFR) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $10.50 target price on the stock.

Greenfire Resources Stock Down 0.3 %

Shares of GFR opened at $5.99 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 0.49. Greenfire Resources has a one year low of $4.68 and a one year high of $9.90. The stock has a 50 day moving average price of $6.00 and a 200 day moving average price of $5.69.

Greenfire Resources (NYSE:GFR) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $149.09 million during the quarter.

Hedge Funds Weigh In On Greenfire Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. acquired a new position in Greenfire Resources during the fourth quarter worth $222,000. K2 Principal Fund L.P. acquired a new position in Greenfire Resources during the third quarter worth $226,000. Cantor Fitzgerald L. P. acquired a new position in shares of Greenfire Resources in the 4th quarter valued at $406,000. Nokomis Capital L.L.C. acquired a new position in shares of Greenfire Resources in the 1st quarter valued at $1,988,000. Finally, Brigade Capital Management LP lifted its stake in shares of Greenfire Resources by 13.5% in the 4th quarter. Brigade Capital Management LP now owns 5,875,560 shares of the company’s stock valued at $28,555,000 after purchasing an additional 699,520 shares during the last quarter. Institutional investors and hedge funds 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.