Bank of America Corp DE Purchases 76,671 Shares of Greenfire Resources Ltd. (NYSE:GFR)

Bank of America Corp DE increased its stake in Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 2,839.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,371 shares of the company's stock after purchasing an additional 76,671 shares during the quarter. Bank of America Corp DE owned about 0.11% of Greenfire Resources worth $560,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Webs Creek Capital Management LP boosted its stake in Greenfire Resources by 255.0% during the fourth quarter. Webs Creek Capital Management LP now owns 355,000 shares of the company's stock valued at $2,506,000 after buying an additional 255,000 shares during the period. Louisbourg Investments Inc. bought a new stake in Greenfire Resources during the fourth quarter worth about $1,787,000. Arrowstreet Capital Limited Partnership bought a new stake in Greenfire Resources during the fourth quarter worth about $1,178,000. Hillsdale Investment Management Inc. purchased a new stake in Greenfire Resources during the 4th quarter valued at about $1,155,000. Finally, LPL Financial LLC purchased a new stake in Greenfire Resources during the 4th quarter valued at about $270,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets restated an "outperform" rating on shares of Greenfire Resources in a report on Wednesday, May 7th.

Greenfire Resources Trading Up 5.5%

GFR stock traded up $0.27 during trading on Friday, hitting $5.09. 53,673 shares of the company traded hands, compared to its average volume of 105,345. The firm has a market capitalization of $353.24 million, a PE ratio of 14.53 and a beta of 0.25. Greenfire Resources Ltd. has a 1 year low of $3.81 and a 1 year high of $8.16. The company has a 50-day moving average of $4.63 and a 200-day moving average of $5.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.67.

Greenfire Resources (NYSE:GFR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.16). The business had revenue of $123.16 million for the quarter. Greenfire Resources had a net margin of 5.02% and a return on equity of 5.40%.

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.