Greenfire Resources (NYSE:GFR) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• Greenfire Resources reported a quarterly earnings per share of $0.50, surpassing estimates by $0.19.
• The company has a net margin of 28.61% and a return on equity of 24.62%.
• Institutional ownership in Greenfire Resources has increased, with the Royal Bank of Canada raising its position by 6,363.6%.

Greenfire Resources (NYSE:GFR - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.19, Zacks reports. Greenfire Resources had a net margin of 28.61% and a return on equity of 24.62%.

Greenfire Resources Trading Down 0.5%

NYSE:GFR traded down $0.03 during trading hours on Thursday, reaching $4.54. 11,224 shares of the company were exchanged, compared to its average volume of 75,801. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.82 and a quick ratio of 2.54. The firm has a market cap of $315.05 million, a price-to-earnings ratio of 2.22 and a beta of 0.28. Greenfire Resources has a 52-week low of $3.81 and a 52-week high of $8.16. The stock has a 50 day simple moving average of $4.56 and a 200 day simple moving average of $5.03.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Greenfire Resources stock. Royal Bank of Canada increased its position in shares of Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 6,363.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,750 shares of the company's stock after acquiring an additional 55,872 shares during the quarter. Royal Bank of Canada owned 0.08% of Greenfire Resources worth $333,000 as of its most recent SEC filing. Institutional investors and hedge funds own 88.89% of the company's stock.

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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