Infinity Natural Resources (NYSE:INR) Director Buys $580,360.00 in Stock

Infinity Natural Resources Inc. (NYSE:INR) Director William Quinn bought 44,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $13.19 per share, for a total transaction of $580,360.00. Following the completion of the purchase, the director owned 54,503 shares in the company, valued at approximately $718,894.57. This trade represents a 418.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Infinity Natural Resources Stock Up 2.1%

Shares of NYSE:INR opened at $13.88 on Thursday. The firm’s fifty day moving average price is $15.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87. Infinity Natural Resources Inc. has a 12-month low of $11.13 and a 12-month high of $19.90. The firm has a market cap of $881.80 million, a P/E ratio of 4.96 and a beta of -0.54.

Infinity Natural Resources (NYSE:INR) last announced its earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. The company had revenue of $117.06 million for the quarter. Equities research analysts anticipate that Infinity Natural Resources Inc. will post 3.28 earnings per share for the current year.

Hedge Funds Weigh In On Infinity Natural Resources

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Infinity Natural Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company’s stock worth $1,136,000 after acquiring an additional 1,429 shares during the last quarter. Barclays PLC increased its stake in shares of Infinity Natural Resources by 10.5% in the fourth quarter. Barclays PLC now owns 24,458 shares of the company’s stock worth $360,000 after acquiring an additional 2,334 shares during the last quarter. Invesco Ltd. increased its stake in shares of Infinity Natural Resources by 18.6% in the fourth quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock worth $248,000 after acquiring an additional 2,643 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Infinity Natural Resources by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 346,738 shares of the company’s stock worth $5,109,000 after acquiring an additional 4,618 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Infinity Natural Resources in the fourth quarter worth $75,000.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. KeyCorp boosted their target price on shares of Infinity Natural Resources from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Finally, Citigroup cut their target price on shares of Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

About Infinity Natural Resources

We are a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Additionally, we have proven our ability to grow our acreage position through organic leasing efforts and accretive acquisitions.