Moerus Capital Management LLC Increases Stake in Greenfire Resources Ltd. $GFR

Moerus Capital Management LLC lifted its position in Greenfire Resources Ltd. (NYSE:GFR) by 37.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,335,804 shares of the company’s stock after purchasing an additional 642,312 shares during the period. Greenfire Resources comprises approximately 5.5% of Moerus Capital Management LLC’s holdings, making the stock its 7th biggest holding. Moerus Capital Management LLC’s holdings in Greenfire Resources were worth $14,838,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GFR. Walleye Capital LLC purchased a new position in Greenfire Resources during the first quarter valued at approximately $378,000. Aegis Financial Corp lifted its stake in Greenfire Resources by 133.1% in the 1st quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock worth $2,639,000 after purchasing an additional 238,417 shares in the last quarter. Militia Capital Management LLC purchased a new stake in Greenfire Resources in the 1st quarter worth approximately $1,637,000. Turtle Creek Wealth Advisors LLC bought a new position in Greenfire Resources in the 1st quarter valued at $141,000. Finally, Quadrature Capital Ltd bought a new position in Greenfire Resources in the 4th quarter valued at $286,000. 88.89% of the stock is currently owned by institutional investors.

Greenfire Resources Trading Down 0.2%

Shares of GFR opened at $6.63 on Friday. The firm’s 50 day simple moving average is $5.85 and its 200 day simple moving average is $5.86. The company has a market capitalization of $832.10 million, a P/E ratio of -73.71 and a beta of 0.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.54. Greenfire Resources Ltd. has a 1-year low of $4.14 and a 1-year high of $7.02.

Greenfire Resources (NYSE:GFR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.48). Greenfire Resources had a negative return on equity of 4.20% and a negative net margin of 7.55%.The company had revenue of $34.81 million for the quarter, compared to the consensus estimate of $104.27 million.

Analyst Upgrades and Downgrades

GFR has been the topic of several research analyst reports. Royal Bank Of Canada started coverage on shares of Greenfire Resources in a report on Monday, July 6th. They issued a “hold” rating on the stock. TD Securities started coverage on Greenfire Resources in a research note on Tuesday, June 16th. They set a “buy” rating for the company. Finally, Weiss Ratings cut Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Greenfire Resources has a consensus rating of “Hold”.

About Greenfire Resources

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.