Greenfire Resources Ltd. $GFR Shares Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. raised its position in Greenfire Resources Ltd. (NYSE:GFR) by 88.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845,285 shares of the company’s stock after acquiring an additional 397,685 shares during the quarter. K2 Principal Fund L.P. owned approximately 1.22% of Greenfire Resources worth $4,024,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GFR. Moerus Capital Management LLC acquired a new position in Greenfire Resources in the 4th quarter valued at about $8,082,000. BW Gestao de Investimentos Ltda. grew its position 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 valued at $14,704,000 after acquiring an additional 1,613,198 shares in the last quarter. Bank of Montreal Can grew its position 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 valued at $4,821,000 after acquiring an additional 631,848 shares in the last quarter. MMCAP International Inc. SPC acquired a new position in Greenfire Resources in the 3rd quarter valued at about $1,148,000. Finally, Aegis Financial Corp acquired a new position in Greenfire Resources in the 4th quarter valued at about $853,000. 88.89% of the stock is owned by institutional investors and hedge funds.

Greenfire Resources Price Performance

Shares of NYSE GFR opened at $5.74 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. Greenfire Resources Ltd. has a twelve month low of $4.10 and a twelve month high of $7.02. The stock has a 50 day moving average of $6.01 and a two-hundred day moving average of $5.63. The stock has a market cap of $719.21 million, a P/E ratio of -63.72 and a beta of 0.20.

Greenfire Resources (NYSE:GFR) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.22). Greenfire Resources had a negative net margin of 7.55% and a negative return on equity of 4.20%. The firm had revenue of $100.73 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Greenfire Resources from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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.