Why These Energy Stocks Are Losing This Week

8. Greenfire Resources Ltd. (NYSE:GFR)

Share Price Decline Between Sep 18 – Sep 25: 6.02%

Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer that is actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada.

Greenfire Resources Ltd. (NYSE:GFR) took a hit after BMO Capital analyst Tariq Saad downgraded the stock from ‘Outperform’ to ‘Market Perform’, with a price target of C$8. The analyst expects the company to ‘materially outspend’ its cash flow next year, which would drive the company’s leverage higher, especially in a low-price environment.