Greenfire Resources Ltd. $GFR Stock Acquired by Beverly Hills Private Wealth LLC

Key Points

• Beverly Hills Private Wealth LLC increased its Greenfire Resources stake by 161.3% in the third quarter, adding 670,909 shares to reach 1,086,833 shares, valued at about $6.14 million.
• Institutional investors own 88.89% of Greenfire’s shares. Analysts’ consensus rating is Moderate Buy, with an average price target of $11.50.
• Greenfire shares opened at $5.63; the stock’s 52-week range is $4.15 to $7.16. The company develops and produces bitumen from Alberta’s oil sands.

Beverly Hills Private Wealth LLC lifted its holdings in shares of Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 161.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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 makes up about 0.9% of Beverly Hills Private Wealth LLC's holdings, making the stock its 28th biggest position. Beverly Hills Private Wealth LLC owned approximately 0.87% of Greenfire Resources worth $6,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Engineers Gate Manager LP bought a new position in shares of Greenfire Resources in the second quarter valued at approximately $60,000. StoneX Group Inc. bought a new stake in shares of Greenfire Resources during the 3rd quarter worth $87,000. Mraz Amerine & Associates Inc. bought a new stake in shares of Greenfire Resources during the 3rd quarter worth $87,000. TD Waterhouse Canada Inc. acquired a new position in Greenfire Resources in the 3rd quarter valued at $154,000. Finally, Bank of America Corp DE grew its stake in Greenfire Resources by 2,709.5% in the 1st quarter. Bank of America Corp DE now owns 42,142 shares of the company's stock valued at $266,000 after buying an additional 40,642 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on GFR shares. BMO Capital Markets upgraded shares of Greenfire Resources from a "market perform" rating to an "outperform" rating and set a $11.50 target price on the stock in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Greenfire Resources from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Finally, TD Securities raised Greenfire Resources to a "strong-buy" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Greenfire Resources has a consensus rating of "Moderate Buy" and an average target price of $11.50.

Greenfire Resources Trading Up 0.6%

Shares of GFR stock opened at $5.63 on Monday. The firm has a fifty day moving average of $6.32 and a 200-day moving average of $6.10. 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 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.

About Greenfire Resources

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.

Want to see what other hedge funds are holding GFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Greenfire Resources Ltd. (NYSE:GFR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.