Infinity Natural Resources Inc. (NYSE:INR) Stock Has Average Target Price of $24.00 According to Brokerages

Shares of Infinity Natural Resources Inc. (NYSE:INR) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $24.00.

Several equities research analysts have recently issued reports on the stock. Stephens lowered their price objective on shares of Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Zacks Research lowered shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, September 28th. Texas Capital raised shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Raymond James Financial cut their price objective on shares of Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Infinity Natural Resources in a research note on Tuesday, July 7th.

Infinity Natural Resources Price Performance

Shares of INR opened at $13.37 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day simple moving average of $13.98 and a 200 day simple moving average of $14.35. Infinity Natural Resources has a 52-week low of $11.13 and a 52-week high of $19.58. The firm has a market capitalization of $847.99 million, a PE ratio of 5.35 and a beta of -0.30.

Infinity Natural Resources (NYSE:INR) last announced its earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. The firm had revenue of $171.02 million for the quarter. Sell-side analysts predict that Infinity Natural Resources will post 3.43 EPS for the current fiscal year.

Insider Activity

In other news, Director Scott Gieselman acquired 10,000 shares of Infinity Natural Resources stock in a transaction dated Tuesday, September 22nd. The stock was bought at an average cost of $13.06 per share, with a total value of $130,600.00. Following the completion of the transaction, the director directly owned 123,467 shares of the company’s stock, valued at approximately $1,612,479.02. This represents a 8.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary D. Baetz acquired 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average price of $13.44 per share, with a total value of $295,680.00. Following the completion of the acquisition, the chief financial officer owned 22,000 shares of the company’s stock, valued at $295,680. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 50,783 shares of company stock worth $663,625 in the last three months. Company insiders own 40.90% of the company’s stock.

Hedge Funds Weigh In On Infinity Natural Resources

A number of large investors have recently bought and sold shares of INR. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 1,429 shares in the last quarter. Versant Capital Management Inc lifted its position in Infinity Natural Resources by 76.8% during the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock worth $48,000 after buying an additional 1,649 shares in the last quarter. CI Investments Inc. lifted its position in Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock worth $4,845,000 after buying an additional 8,673 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in shares of Infinity Natural Resources by 24.8% during the 4th quarter. Amova Asset Management Americas Inc. now owns 53,141 shares of the company’s stock worth $782,000 after buying an additional 10,576 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Infinity Natural Resources by 28.5% during the 1st quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock worth $853,000 after buying an additional 10,746 shares during the last quarter.

About Infinity Natural Resources

Infinity Natural Resources, Inc (NYSE: INR) is an independent oil and natural gas exploration and production company focused on the Appalachian Basin. The company develops and operates unconventional oil and gas properties, with activities concentrated primarily in Ohio and West Virginia.

Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.

The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.