Encompass Capital Advisors LLC lifted its holdings in Greenfire Resources Ltd. (NYSE:GFR - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,374,312 shares of the company's stock after acquiring an additional 771,756 shares during the period. Greenfire Resources makes up approximately 1.5% of Encompass Capital Advisors LLC's portfolio, making the stock its 24th biggest position. Encompass Capital Advisors LLC owned approximately 6.37% of Greenfire Resources worth $29,527,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Scotia Capital Inc. bought a new position in shares of Greenfire Resources during the 4th quarter worth approximately $222,000. K2 Principal Fund L.P. boosted its stake in Greenfire Resources by 146.3% during the second quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company's stock worth $338,000 after acquiring an additional 29,700 shares in the last quarter. Perritt Capital Management Inc acquired a new stake in Greenfire Resources in the second quarter worth $384,000. Cantor Fitzgerald L. P. bought a new stake in Greenfire Resources in the fourth quarter valued at $406,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Greenfire Resources during the second quarter valued at about $491,000. 88.89% of the stock is owned by institutional investors and hedge funds.
Greenfire Resources Price Performance
NYSE GFR traded down $0.14 during mid-day trading on Thursday, hitting $7.45. The company's stock had a trading volume of 344,661 shares, compared to its average volume of 59,234. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.72 and a current ratio of 0.77. The company's 50 day simple moving average is $7.06 and its 200 day simple moving average is $6.48. Greenfire Resources Ltd. has a twelve month low of $4.68 and a twelve month high of $8.03.
Greenfire Resources (NYSE:GFR - Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported $0.31 earnings per share for the quarter. The business had revenue of $160.39 million during the quarter.
Analysts Set New Price Targets
Separately, BMO Capital Markets initiated coverage on Greenfire Resources in a research note on Thursday, June 13th. They set an "outperform" rating and a $10.50 price target on the stock.
Read Our Latest Stock Analysis on Greenfire Resources
Greenfire Resources Company Profile
(
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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