Greenfire Resources (NYSE:GFR) Stock Rating Cut to Strong Sell at TD Securities

TD Securities cut shares of Greenfire Resources (NYSE:GFR) from a strong-buy rating to a strong sell rating in a report issued on Tuesday,Zacks reports.

Several other equities analysts also recently commented on the stock. Weiss Ratings raised shares of Greenfire Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. BMO Capital Markets upgraded Greenfire Resources from a “market perform” rating to an “outperform” rating and set a $11.50 target price on the stock in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $11.50.

Greenfire Resources Stock Down 0.3%

Greenfire Resources stock opened at $7.71 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. Greenfire Resources has a 1-year low of $4.15 and a 1-year high of $7.81. The firm’s fifty day simple moving average is $6.38 and its 200-day simple moving average is $6.12. The company has a market capitalization of $966.89 million, a P/E ratio of -25.70 and a beta of 0.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Moerus Capital Management LLC boosted its holdings in Greenfire Resources by 37.9% during the first quarter. Moerus Capital Management LLC now owns 2,335,804 shares of the company’s stock valued at $14,838,000 after acquiring an additional 642,312 shares during the period. Saber Capital Management LLC lifted its position in shares of Greenfire Resources by 71.9% during the 3rd quarter. Saber Capital Management LLC now owns 1,160,863 shares of the company’s stock worth $6,559,000 after purchasing an additional 485,627 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its position in shares of Greenfire Resources by 161.3% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 1,086,833 shares of the company’s stock worth $6,141,000 after purchasing an additional 670,909 shares during the last quarter. Louisbourg Investments Inc. lifted its position in shares of Greenfire Resources by 10.4% during the 3rd quarter. Louisbourg Investments Inc. now owns 730,816 shares of the company’s stock worth $4,121,000 after purchasing an additional 68,836 shares during the last quarter. Finally, Aegis Financial Corp boosted its stake in Greenfire Resources by 133.1% during the 1st quarter. Aegis Financial Corp now owns 417,548 shares of the company’s stock valued at $2,639,000 after purchasing an additional 238,417 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Greenfire Resources Company Profile

Greenfire Resources Ltd. is a Canadian energy company focused on developing and producing bitumen from oil sands in Alberta. Its operations use steam-assisted gravity drainage (SAGD), a thermal recovery method used to extract bitumen from underground deposits. The company’s principal asset is the Hangingstone oil sands project, south of Fort McMurray. Greenfire’s production is bitumen, which can be processed or blended for transportation and refining. Greenfire’s business is concentrated in Alberta, where it operates and seeks to develop its thermal oil sands assets.