Insider Buying: Infinity Natural Resources (NYSE:INR) CFO Acquires $295,680.00 in Stock

Infinity Natural Resources Inc. (NYSE:INR – Get Free Report) CFO Cary Baetz acquired 22,000 shares of the stock in a transaction on Thursday, September 24th. The shares were bought at an average price of $13.44 per share, for a total transaction of $295,680.00. Following the purchase, the chief financial officer owned 22,000 shares in the company, valued at approximately $295,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Infinity Natural Resources Trading Down 0.5%

INR opened at $12.63 on Thursday. The stock has a market capitalization of $800.74 million, a price-to-earnings ratio of 5.05 and a beta of -0.42. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.35. Infinity Natural Resources Inc. has a twelve month low of $11.13 and a twelve month high of $19.58. The company has a 50-day simple moving average of $13.93 and a 200 day simple moving average of $14.58.

Infinity Natural Resources (NYSE:INR – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The firm had revenue of $171.02 million for the quarter. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. Analysts predict that Infinity Natural Resources Inc. will post 3.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new stake in shares of Infinity Natural Resources in the second quarter valued at about $139,000. Public Employees Retirement System of Ohio acquired a new position in shares of Infinity Natural Resources in the second quarter worth approximately $1,116,000. Bank of New York Mellon Corp acquired a new position in shares of Infinity Natural Resources in the second quarter worth approximately $892,000. Versant Capital Management Inc increased its position in Infinity Natural Resources by 76.8% during the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock valued at $48,000 after purchasing an additional 1,649 shares during the period. Finally, Bank of America Corp DE increased its position 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 period.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $27.00 price objective on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Stephens dropped their price target on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Raymond James Financial cut 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. Finally, Citigroup reaffirmed a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Get Our Latest Analysis on Infinity Natural Resources

About Infinity Natural Resources

(Get Free Report)

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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Insider Buying and Selling by Quarter for Infinity Natural Resources (NYSE:INR)

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