Infinity Natural Resources (NYSE:INR – Get Free Report) issued its earnings results on Monday. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02, Zacks reports. The firm had revenue of $171.02 million during the quarter. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%.
Infinity Natural Resources Trading Up 7.2%
Shares of Infinity Natural Resources stock opened at $13.91 on Tuesday. Infinity Natural Resources has a 1 year low of $11.13 and a 1 year high of $19.58. The business has a fifty day moving average of $12.97. The firm has a market capitalization of $883.70 million, a P/E ratio of 4.97 and a beta of -0.52. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on INR. Raymond James Financial dropped their price target on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 8th. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price target on shares of Infinity Natural Resources in a report on Tuesday, July 7th. Stephens reduced their target price on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infinity Natural Resources in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.
Insider Activity at Infinity Natural Resources
In related news, Director William J. Quinn purchased 44,000 shares of Infinity Natural Resources stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $13.19 per share, with a total value of $580,360.00. Following the acquisition, the director directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott Gieselman purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $14.10 per share, for a total transaction of $282,000.00. Following the completion of the transaction, the director directly owned 70,900 shares in the company, valued at approximately $999,690. The trade was a 39.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 111,400 shares of company stock valued at $1,483,841 in the last 90 days. 40.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On Infinity Natural Resources
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Infinity Natural Resources by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company’s stock valued at $19,136,000 after acquiring an additional 137,247 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Infinity Natural Resources by 87.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock worth $10,540,000 after purchasing an additional 333,972 shares during the period. Yaupon Capital Management LP lifted its position in Infinity Natural Resources by 25.2% in the fourth quarter. Yaupon Capital Management LP now owns 467,360 shares of the company’s stock worth $6,884,000 after purchasing an additional 94,104 shares during the period. Geode Capital Management LLC boosted its stake in Infinity Natural Resources by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 346,738 shares of the company’s stock worth $5,109,000 after buying an additional 4,618 shares in the last quarter. Finally, State Street Corp boosted its stake in Infinity Natural Resources by 19.9% during the fourth quarter. State Street Corp now owns 343,138 shares of the company’s stock worth $5,054,000 after buying an additional 56,886 shares in the last quarter.
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.
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