Greenfire Resources (NYSE:GFR) Sees Large Volume Increase – Here’s Why

Shares of Greenfire Resources Ltd. (NYSE:GFR) saw an uptick in trading volume on Wednesday . 235,029 shares traded hands during mid-day trading, an increase of 49% from the previous session’s volume of 157,643 shares.The stock last traded at $6.2360 and had previously closed at $6.20.

Greenfire Resources Trading Down 3.7%

The stock has a market cap of $812.91 million, a P/E ratio of 13.23 and a beta of 0.23. The firm’s fifty day moving average is $6.20 and its 200 day moving average is $5.40.

Greenfire Resources (NYSE:GFR) last announced its earnings results on Thursday, March 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.22). The firm had revenue of $100.73 million during the quarter. Greenfire Resources had a return on equity of 5.03% and a net margin of 8.01%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BW Gestao de Investimentos Ltda. raised its holdings in Greenfire Resources by 95.8% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 3,296,823 shares of the company’s stock worth $14,704,000 after acquiring an additional 1,613,198 shares during the period. Moerus Capital Management LLC bought a new position in Greenfire Resources in the 4th quarter worth $8,082,000. Bank of Montreal Can raised its holdings in Greenfire Resources by 165.8% in the 4th quarter. Bank of Montreal Can now owns 1,012,920 shares of the company’s stock worth $4,821,000 after acquiring an additional 631,848 shares during the period. K2 Principal Fund L.P. raised its holdings in Greenfire Resources by 88.8% in the 4th quarter. K2 Principal Fund L.P. now owns 845,285 shares of the company’s stock worth $4,024,000 after acquiring an additional 397,685 shares during the period. Finally, Saber Capital Managment LLC bought a new position in shares of Greenfire Resources during the 4th quarter worth about $3,270,000. Institutional investors own 88.89% of the company’s stock.

Greenfire Resources Company Profile

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.