Greenfire Resources (NYSE:GFR) Shares Down 6.8% - Time to Sell?

Key Points

• Greenfire Resources shares fell 6.8% to about $6.25, with trading volume below the stock’s average session volume.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $11.50, well above its recent trading price.
• The company exceeded quarterly expectations, reporting $0.31 EPS and $123.86 million in revenue, though it continues to post a negative net margin and return on equity.

Shares of Greenfire Resources Ltd. (NYSE:GFR - Get Free Report) traded down 6.8% during trading on Monday. The stock traded as low as $6.25 and last traded at $6.2450. Approximately 335,238 shares were traded during mid-day trading, a decline of 28% from the average session volume of 464,571 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

GFR has been the subject of several recent research reports. BMO Capital Markets upgraded shares of Greenfire Resources from a "market perform" rating to an "outperform" rating and set a $11.50 target price for the company in a research report on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on Greenfire Resources in a research report on Monday, July 6th. They set a "hold" rating for the company. 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 research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $11.50.

Greenfire Resources Trading Down 7.4%

The company has a market capitalization of $778.15 million, a P/E ratio of -22.12 and a beta of 0.19. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $6.36 and a 200-day moving average of $6.08.

Greenfire Resources (NYSE:GFR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.30. The company had revenue of $123.86 million during the quarter, compared to analysts' expectations of $107.41 million. Greenfire Resources had a negative return on equity of 3.50% and a negative net margin of 6.36%.

Hedge Funds Weigh In On Greenfire Resources

Several institutional investors have recently bought and sold shares of GFR. Engineers Gate Manager LP acquired a new position in shares of Greenfire Resources during the 2nd quarter worth $60,000. Mraz Amerine & Associates Inc. acquired a new stake in Greenfire Resources during the third quarter valued at approximately $87,000. Turtle Creek Wealth Advisors LLC grew its holdings in shares of Greenfire Resources by 47.4% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 49,750 shares of the company's stock valued at $281,000 after purchasing an additional 16,000 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Greenfire Resources in the third quarter worth $154,000. Finally, Renaissance Technologies LLC increased its stake in Greenfire Resources by 25.7% during the 1st quarter. Renaissance Technologies LLC now owns 161,262 shares of the company's stock valued at $1,019,000 after buying an additional 32,962 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

Greenfire Resources Company Profile

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.

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