Insider Buying: Infinity Natural Resources (NYSE:INR) Director Buys 7,500 Shares of Stock

Infinity Natural Resources Inc. (NYSE:INRGet Free Report) Director David Poole bought 7,500 shares of the stock in a transaction on Wednesday, June 10th. The shares were acquired at an average cost of $13.99 per share, with a total value of $104,925.00. Following the acquisition, the director directly owned 23,646 shares in the company, valued at approximately $330,807.54. This trade represents a 46.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Infinity Natural Resources Stock Down 9.8%

NYSE INR traded down $1.36 during trading on Thursday, reaching $12.50. 656,355 shares of the stock traded hands, compared to its average volume of 411,013. The company has a market capitalization of $793.87 million, a price-to-earnings ratio of 4.46 and a beta of -0.54. The firm’s 50-day moving average is $15.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98. Infinity Natural Resources Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $19.90.

Infinity Natural Resources (NYSE:INRGet Free Report) last released its earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.67. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%.The firm had revenue of $117.06 million during the quarter. Analysts anticipate that Infinity Natural Resources Inc. will post 3.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INR shares. Citigroup lowered their price objective on 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. Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. 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. Finally, KeyCorp increased their price target on shares of Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.00.

Get Our Latest Research Report on INR

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INR. Bank of America Corp DE boosted its stake in Infinity Natural Resources by 103.5% during the 1st quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after purchasing an additional 165,690 shares during the last quarter. Royal Bank of Canada boosted its stake in Infinity Natural Resources by 116.3% during the 1st quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock valued at $1,056,000 after purchasing an additional 32,227 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Infinity Natural Resources by 28.5% during the 1st quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock valued at $853,000 after purchasing an additional 10,746 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Infinity Natural Resources by 618.9% during the 1st quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock valued at $1,878,000 after purchasing an additional 91,823 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Infinity Natural Resources by 285.3% during the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after purchasing an additional 249,600 shares during the last quarter.

Infinity Natural Resources Company Profile

(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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