Greenfire Resources Ltd. $GFR Stock: Beverly Hills Private Wealth LLC Grows Stake

Beverly Hills Private Wealth LLC boosted its position in shares of Greenfire Resources Ltd. (NYSE:GFR) by 161.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,086,833 shares of the company’s stock after purchasing an additional 670,909 shares during the quarter. Greenfire Resources comprises 0.9% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 28th biggest position. Beverly Hills Private Wealth LLC’s holdings in Greenfire Resources were worth $6,141,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in shares of Greenfire Resources during the second quarter worth approximately $60,000. Mraz Amerine & Associates Inc. bought a new position in Greenfire Resources in the third quarter valued at approximately $87,000. StoneX Group Inc. bought a new position in Greenfire Resources in the third quarter valued at approximately $87,000. TD Waterhouse Canada Inc. bought a new position in Greenfire Resources in the third quarter valued at approximately $154,000. Finally, Bank of America Corp DE grew its holdings in Greenfire Resources by 2,709.5% during the 1st quarter. Bank of America Corp DE now owns 42,142 shares of the company’s stock worth $266,000 after acquiring an additional 40,642 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Securities raised Greenfire Resources to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded Greenfire Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, BMO Capital Markets raised Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 price objective for the company in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Greenfire Resources Price Performance

NYSE GFR opened at $5.63 on Monday. The business has a 50 day simple moving average of $6.32 and a 200 day simple moving average of $6.10. Greenfire Resources Ltd. has a 52-week low of $4.15 and a 52-week high of $7.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.76 and a current ratio of 0.96. The stock has a market cap of $706.56 million, a price-to-earnings ratio of -20.12 and a beta of 0.16.

Greenfire Resources Company Profile

Greenfire Resources Ltd. (NYSE:GFR) is a Canadian energy company focused on the development and production of bitumen from the Alberta oil sands. The company operates in the Hangingstone area, approximately south of Fort McMurray, Alberta, one of Canada’s primary oil sands regions.

Greenfire’s principal assets include its Hangingstone Demonstration and Hangingstone Expansion projects. These operations use in situ production methods, including steam-assisted gravity drainage, to recover bitumen from underground deposits without conventional open-pit mining.