Steven Gray Purchases 25,000 Shares of Infinity Natural Resources (NYSE:INR) Stock

Infinity Natural Resources Inc. (NYSE:INR – Get Free Report) Director Steven Gray acquired 25,000 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $12.81 per share, with a total value of $320,250.00. Following the purchase, the director directly owned 40,000 shares of the company’s stock, valued at $512,400. This trade represents a 166.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Infinity Natural Resources Price Performance

Infinity Natural Resources stock opened at $13.11 on Friday. The firm has a 50 day moving average price of $15.26. Infinity Natural Resources Inc. has a 1 year low of $11.13 and a 1 year high of $19.90. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $833.13 million, a P/E ratio of 4.68 and a beta of -0.54.

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Institutional Trading of Infinity Natural Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INR. Zions Bancorporation National Association UT bought a new stake in shares of Infinity Natural Resources in the 4th quarter valued at $75,000. Connors Investor Services Inc. acquired a new position in shares of Infinity Natural Resources during the 4th quarter valued at $191,000. Lazard Asset Management LLC acquired a new position in shares of Infinity Natural Resources during the 4th quarter valued at $219,000. Invesco Ltd. lifted its position in shares of Infinity Natural Resources by 18.6% during the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock valued at $248,000 after acquiring an additional 2,643 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Infinity Natural Resources by 51.9% during the 4th quarter. Wells Fargo & Company MN now owns 17,246 shares of the company’s stock valued at $254,000 after acquiring an additional 5,891 shares during the period.

Analyst Upgrades and Downgrades

INR has been the subject of several recent research reports. Citigroup lowered their price objective on Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. Wall Street Zen downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. KeyCorp upped their price objective on 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, Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Infinity Natural Resources currently has an average rating of “Hold” and an average price target of $22.00.

Read Our Latest Report on Infinity Natural Resources

About Infinity Natural Resources

(Get Free Report)

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.

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