Infinity Natural Resources (NYSE:INR) Posts Quarterly Earnings Results

Infinity Natural Resources (NYSE:INR) released its quarterly earnings data on Monday. The company reported ($0.37) earnings per share for the quarter, FiscalAI reports. The business had revenue of $197.58 million during the quarter. Infinity Natural Resources had a return on equity of 33.39% and a net margin of 11.64%.

Infinity Natural Resources Stock Performance

Shares of INR traded up $0.35 during trading hours on Monday, hitting $13.14. The stock had a trading volume of 353,865 shares, compared to its average volume of 301,107. 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 firm has a 50-day moving average price of $13.86 and a 200 day moving average price of $14.73. Infinity Natural Resources has a fifty-two week low of $11.30 and a fifty-two week high of $19.58. The firm has a market capitalization of $833.68 million, a price-to-earnings ratio of 5.26 and a beta of -0.43.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada lowered their price target on shares of Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Zacks Research lowered Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Weiss Ratings raised Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Finally, Scotiabank assumed coverage on Infinity Natural Resources in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.83.

Insiders Place Their Bets

In other news, Director Scott Gieselman acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was bought at an average price of $13.06 per share, with a total value of $130,600.00. Following the completion of the acquisition, the director 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 document filed with the SEC, which is accessible through the SEC website. Also, CFO Cary D. Baetz acquired 22,000 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was purchased at an average price of $13.44 per share, with a total value of $295,680.00. Following the transaction, the chief financial officer owned 22,000 shares of the company’s stock, valued at approximately $295,680. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 50,783 shares of company stock worth $663,625 over the last three months. 40.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Infinity Natural Resources

Several institutional investors and hedge funds have recently modified their holdings of INR. Renaissance Technologies LLC boosted its position in Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock worth $5,936,000 after purchasing an additional 249,600 shares in the last quarter. Bank of America Corp DE increased its position in shares of Infinity Natural Resources by 103.5% in the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after buying an additional 165,690 shares in the last quarter. Sei Investments Co. raised its stake in shares of Infinity Natural Resources by 153.6% during the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after buying an additional 166,810 shares during the period. CI Investments Inc. raised its stake in shares of 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 during the period. Finally, Walleye Capital LLC lifted its position in shares of Infinity Natural Resources by 74.0% during the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock valued at $2,581,000 after buying an additional 62,343 shares in the last quarter.

Infinity Natural Resources Company Profile

Infinity Natural Resources, Inc (NYSE: INR) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Appalachian Basin, one of the most significant hydrocarbon-producing regions in the United States.

Infinity Natural Resources primarily holds and develops acreage in West Virginia and Ohio. Its activities include drilling and completing horizontal wells, operating producing properties, and managing the infrastructure needed to gather and transport hydrocarbons to market.