Greenfire Resources (NYSE:GFR) Shares Down 1.1% - Should You Sell?

Key Points

• Greenfire Resources Ltd. (NYSE:GFR) saw its stock price decrease by 1.1%, closing at $4.56 after trading as low as $4.43.
• Analysts at BMO Capital Markets maintained an "outperform" rating on Greenfire Resources shares, despite the recent price drop.
• In its latest earnings report, Greenfire reported $0.16 EPS, missing expectations by $0.16, with a total revenue of $123.16 million for the quarter.

Greenfire Resources Ltd. (NYSE:GFR - Get Free Report)'s share price dropped 1.1% during trading on Friday . The company traded as low as $4.43 and last traded at $4.56. Approximately 14,093 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 37,050 shares. The stock had previously closed at $4.61.

Analyst Ratings Changes

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

Greenfire Resources Price Performance

The firm has a 50 day moving average price of $4.54 and a 200 day moving average price of $5.12. The company has a quick ratio of 1.51, a current ratio of 1.65 and a debt-to-equity ratio of 0.38. The stock has a market cap of $315.81 million, a P/E ratio of 2.46 and a beta of 0.28.

Greenfire Resources (NYSE:GFR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.16). The business had revenue of $123.16 million for the quarter. Greenfire Resources had a net margin of 23.73% and a return on equity of 23.94%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC grew its holdings in Greenfire Resources by 66.3% during the first quarter. FNY Investment Advisers LLC now owns 16,633 shares of the company's stock worth $97,000 after acquiring an additional 6,633 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Greenfire Resources during the fourth quarter worth about $100,000. XTX Topco Ltd acquired a new stake in Greenfire Resources in the first quarter valued at approximately $103,000. Jump Financial LLC purchased a new stake in shares of Greenfire Resources in the fourth quarter valued at approximately $107,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Greenfire Resources during the 4th quarter worth approximately $138,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.