Encompass Capital Advisors LLC Purchases 754,571 Shares of Greenfire Resources Ltd. $GFR

Key Points

• Encompass Capital Advisors LLC increased its stake in Greenfire Resources by 18.6%, now owning 4,803,504 shares valued at approximately $28.2 million.
• Multiple institutional investors have also shown interest, with Cubist Systematic Strategies and FNY Investment Advisers significantly increasing their holdings during recent quarters.
• BMO Capital Markets has reaffirmed an "outperform" rating for Greenfire Resources, which currently holds a consensus rating of "Buy" among analysts.

Encompass Capital Advisors LLC increased its stake in shares of Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 18.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,803,504 shares of the company's stock after purchasing an additional 754,571 shares during the period. Encompass Capital Advisors LLC owned approximately 6.91% of Greenfire Resources worth $28,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GFR. FNY Investment Advisers LLC raised its holdings in shares of Greenfire Resources by 66.3% during the first quarter. FNY Investment Advisers LLC now owns 16,633 shares of the company's stock valued at $97,000 after purchasing an additional 6,633 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Greenfire Resources during the fourth quarter valued at approximately $100,000. XTX Topco Ltd purchased a new position in shares of Greenfire Resources during the first quarter valued at approximately $103,000. Dimensional Fund Advisors LP purchased a new position in shares of Greenfire Resources during the fourth quarter valued at approximately $138,000. Finally, Beverly Hills Private Wealth LLC purchased a new position in shares of Greenfire Resources during the first quarter valued at approximately $216,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

Greenfire Resources Stock Performance

Shares of GFR traded down $0.11 during mid-day trading on Monday, hitting $4.98. 4,655 shares of the company traded hands, compared to its average volume of 74,010. The stock has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $4.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.54 and a current ratio of 2.82. The stock has a market cap of $345.96 million, a price-to-earnings ratio of 2.44 and a beta of 0.29. Greenfire Resources Ltd. has a 1 year low of $3.81 and a 1 year high of $8.16.

Greenfire Resources (NYSE:GFR - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.19. Greenfire Resources had a net margin of 28.61% and a return on equity of 24.62%.

Greenfire Resources 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.