Louisbourg Investments Inc. Has $2.15 Million Position in Greenfire Resources Ltd. $GFR

Key Points

• Louisbourg Investments Inc. increased its stake in Greenfire Resources Ltd. by 29.9% during Q2, now owning 483,379 shares worth approximately $2.15 million.
• Institutional investors collectively own about 88.89% of Greenfire Resources, with significant recent investments from firms like Polar Asset Management and Royal Bank of Canada.
• The stock has a P/E ratio of 2.25 and reported $0.50 EPS, exceeding analyst expectations, while currently holding a consensus rating of "Reduce" from analysts.

Louisbourg Investments Inc. boosted its position in Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 29.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,379 shares of the company's stock after purchasing an additional 111,400 shares during the period. Louisbourg Investments Inc. owned 0.70% of Greenfire Resources worth $2,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Polar Asset Management Partners Inc. acquired a new position in Greenfire Resources in the 1st quarter worth about $297,000. K2 Principal Fund L.P. acquired a new position in Greenfire Resources in the 1st quarter worth about $602,000. Encompass Capital Advisors LLC increased its holdings in Greenfire Resources by 18.6% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,803,504 shares of the company's stock worth $28,197,000 after purchasing an additional 754,571 shares in the last quarter. BW Gestao de Investimentos Ltda. increased its holdings in Greenfire Resources by 80.9% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,683,625 shares of the company's stock worth $9,883,000 after purchasing an additional 753,033 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Greenfire Resources by 6,363.6% in the 1st quarter. Royal Bank of Canada now owns 56,750 shares of the company's stock worth $333,000 after purchasing an additional 55,872 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company's stock.

Greenfire Resources Trading Down 1.2%

NYSE GFR opened at $4.59 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.82 and a quick ratio of 2.54. Greenfire Resources Ltd. has a one year low of $3.81 and a one year high of $8.16. The business has a 50 day simple moving average of $4.79 and a 200 day simple moving average of $4.72. The stock has a market capitalization of $318.52 million, a P/E ratio of 2.25 and a beta of 0.27.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Greenfire Resources in a research note on Wednesday. BMO Capital Markets cut Greenfire Resources from an "outperform" rating to a "market perform" rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce".

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.

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