Infinity Natural Resources Inc. (NYSE:INR – Get Free Report)’s share price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $13.03, but opened at $13.30. Infinity Natural Resources shares last traded at $13.2130, with a volume of 48,873 shares trading hands.
Specifically, Director Scott Gieselman acquired 10,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 123,467 shares in the company, valued at approximately $1,612,479.02. This represents a 8.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Gieselman bought 18,467 shares of the stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $12.62 per share, with a total value of $233,053.54. Following the completion of the purchase, the director directly owned 113,467 shares of the company’s stock, valued at approximately $1,431,953.54. This represents a 19.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.
Analysts Set New Price Targets
INR has been the subject of a number of analyst reports. Raymond James Financial reduced their price target on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 8th. Texas Capital raised Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Weiss Ratings raised Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Citigroup reissued a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $27.00 price target on shares of Infinity Natural Resources in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Infinity Natural Resources currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Infinity Natural Resources Stock Up 1.7%
The firm has a market capitalization of $840.40 million, a P/E ratio of 5.30 and a beta of -0.42. The stock has a fifty day moving average price of $13.97 and a two-hundred day moving average price of $14.76. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87.
Infinity Natural Resources (NYSE:INR – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $171.02 million for the quarter. Research analysts forecast that Infinity Natural Resources Inc. will post 3.43 EPS for the current year.
Institutional Investors Weigh In On Infinity Natural Resources
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Infinity Natural Resources by 2.3% during 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 during the period. Versant Capital Management Inc increased its position in Infinity Natural Resources by 76.8% during the second 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 during the last quarter. CI Investments Inc. raised its position in shares of Infinity Natural Resources by 3.3% in the first quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock valued at $4,845,000 after purchasing an additional 8,673 shares during the period. Amova Asset Management Americas Inc. grew its position in shares of Infinity Natural Resources by 24.8% in the fourth quarter. Amova Asset Management Americas Inc. now owns 53,141 shares of the company’s stock valued at $782,000 after purchasing an additional 10,576 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Infinity Natural Resources by 28.5% in 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 period.
Infinity Natural Resources Company Profile
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 primarily in Ohio and West Virginia, where it targets formations including the Marcellus and Utica shales.
Its production portfolio includes natural gas, natural gas liquids and crude oil. Infinity Natural Resources is involved in the drilling, completion and operation of horizontal wells, as well as related gathering and infrastructure activities needed to transport its production to market.
The company was established in 2017 and has built its business around operated acreage and development opportunities in the Appalachian region.
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