Greenfire Resources (NYSE:GFR) Reaches New 1-Year High - What's Next?

Greenfire Resources Ltd. (NYSE:GFR - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $8.04 and last traded at $8.00, with a volume of 42459 shares changing hands. The stock had previously closed at $7.88.

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Analyst Upgrades and Downgrades

Separately, BMO Capital Markets started coverage on shares of Greenfire Resources in a research report on Thursday, June 13th. They set an "outperform" rating and a $10.50 target price on the stock.

Read Our Latest Report on GFR

Greenfire Resources Stock Up 0.8 %

The stock's fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.63. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.41.

Greenfire Resources (NYSE:GFR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.31 EPS for the quarter. The company had revenue of $160.39 million during the quarter.

Hedge Funds Weigh In On Greenfire Resources

Several large investors have recently modified their holdings of GFR. Ninepoint Partners LP acquired a new stake in shares of Greenfire Resources during the second quarter worth $18,562,000. Encompass Capital Advisors LLC increased its position in shares of Greenfire Resources by 21.4% during the second quarter. Encompass Capital Advisors LLC now owns 4,374,312 shares of the company's stock worth $29,527,000 after buying an additional 771,756 shares during the period. Nokomis Capital L.L.C. acquired a new stake in shares of Greenfire Resources during the first quarter worth $1,988,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Greenfire Resources during the second quarter worth $1,120,000. Finally, Luxor Capital Group LP increased its position in shares of Greenfire Resources by 8.9% during the second quarter. Luxor Capital Group LP now owns 1,948,026 shares of the company's stock worth $13,149,000 after buying an additional 159,900 shares during the period. Institutional investors own 88.89% of the company's stock.

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About Greenfire Resources

(Get Free Report)

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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