Paloma Partners Management Co Has $5.86 Million Holdings in Greenfire Resources Ltd. (NYSE:GFR)

Paloma Partners Management Co decreased its position in Greenfire Resources Ltd. (NYSE:GFR) by 62.5% in the third quarter, HoldingsChannel reports. The firm owned 786,486 shares of the company’s stock after selling 1,308,247 shares during the period. Paloma Partners Management Co’s holdings in Greenfire Resources were worth $5,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ninepoint Partners LP purchased a new stake in shares of Greenfire Resources in the second quarter valued at $18,562,000. Encompass Capital Advisors LLC lifted its stake in Greenfire Resources by 21.4% in the 2nd quarter. Encompass Capital Advisors LLC now owns 4,374,312 shares of the company’s stock worth $29,527,000 after acquiring an additional 771,756 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in Greenfire Resources during the 2nd quarter worth about $878,000. Renaissance Technologies LLC purchased a new position in Greenfire Resources during the 2nd quarter valued at about $491,000. Finally, K2 Principal Fund L.P. increased its holdings in shares of Greenfire Resources by 146.3% in the 2nd quarter. K2 Principal Fund L.P. now owns 50,003 shares of the company’s stock valued at $338,000 after purchasing an additional 29,700 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Greenfire Resources Price Performance

NYSE GFR opened at $7.30 on Monday. The company has a 50 day simple moving average of $7.40 and a 200-day simple moving average of $6.96. Greenfire Resources Ltd. has a 52-week low of $4.68 and a 52-week high of $8.16. The firm has a market capitalization of $507.13 million, a price-to-earnings ratio of 20.86 and a beta of 0.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.67 and a quick ratio of 0.58.

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.