Greenfire Resources (NYSE:GFR) Posts Earnings Results

Key Points

• Greenfire Resources reported quarterly EPS of $0.31, exceeding the analyst consensus estimate of $0.01 by $0.30. However, the company posted a negative 7.55% net margin and negative 4.20% return on equity.
• Shares fell 0.8% to $5.89, with the stock trading between a 12-month range of $4.14 and $7.02. Greenfire has weak liquidity ratios, including a current ratio of 0.66 and quick ratio of 0.54.
• Analyst sentiment remains mixed, with ratings ranging from Sell to Strong Buy and an overall consensus of Hold. Institutional investors own 88.89% of the company, including Moerus Capital Management’s roughly $8.1 million position.

Greenfire Resources (NYSE:GFR - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.30, Zacks reports. Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.

Greenfire Resources Stock Down 0.8%

NYSE GFR traded down $0.05 on Wednesday, hitting $5.89. 73,102 shares of the stock traded hands, compared to its average volume of 178,995. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $5.87 and a 200 day moving average of $5.94. Greenfire Resources has a twelve month low of $4.14 and a twelve month high of $7.02. The company has a market capitalization of $738.66 million, a P/E ratio of -65.45 and a beta of 0.19.

Analyst Upgrades and Downgrades

Several brokerages have commented on GFR. Weiss Ratings lowered Greenfire Resources from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, May 18th. Royal Bank Of Canada began coverage on Greenfire Resources in a research note on Monday, July 6th. They issued a "hold" rating on the stock. Finally, TD Securities upgraded Greenfire Resources to a "strong-buy" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Greenfire Resources has an average rating of "Hold".

Institutional Investors Weigh In On Greenfire Resources

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in Greenfire Resources during the fourth quarter worth $286,000. Raffles Associates LP bought a new stake in Greenfire Resources during the fourth quarter valued at $50,000. Royal Bank of Canada increased its stake in Greenfire Resources by 158.7% during the fourth quarter. Royal Bank of Canada now owns 42,290 shares of the company's stock valued at $201,000 after purchasing an additional 25,940 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Greenfire Resources during the fourth quarter worth $74,000. Finally, Moerus Capital Management LLC bought a new position in shares of Greenfire Resources in the 4th quarter worth about $8,082,000. 88.89% of the stock is currently owned by institutional investors.

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. The company is headquartered in Calgary, Canada.

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