Infinity Natural Resources (NYSE:INR – Get Free Report) had its target price reduced by stock analysts at Royal Bank Of Canada from $22.00 to $21.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 54.68% from the stock’s previous close.
Several other research firms have also recently weighed in on INR. Raymond James Financial cut their price objective on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 8th. Zacks Research cut Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Stephens lowered their target price 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. Weiss Ratings upgraded Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Finally, Texas Capital raised Infinity Natural Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.80.
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Infinity Natural Resources Trading Down 2.3%
Infinity Natural Resources (NYSE:INR – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Sell-side analysts anticipate that Infinity Natural Resources will post 3.43 EPS for the current year.
Insider Activity
In other Infinity Natural Resources news, CFO Cary Baetz acquired 22,000 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $13.44 per share, for a total transaction of $295,680.00. Following the completion of the acquisition, the chief financial officer owned 22,000 shares in the company, valued at $295,680. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Gieselman acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average price of $13.06 per share, for a total transaction of $130,600.00. Following the acquisition, the director owned 123,467 shares of the company’s stock, valued at approximately $1,612,479.02. This trade represents a 8.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 50,783 shares of company stock worth $663,625 in the last three months. 40.90% of the stock is currently owned by insiders.
Institutional Trading of Infinity Natural Resources
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after buying an additional 249,600 shares during the last quarter. Bank of America Corp DE raised its holdings in Infinity Natural Resources by 103.5% in the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock worth $5,736,000 after buying an additional 165,690 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Infinity Natural Resources by 153.6% in the first quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after buying an additional 166,810 shares in the last quarter. CI Investments Inc. lifted its stake 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 worth $4,845,000 after buying an additional 8,673 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Infinity Natural Resources by 74.0% during the first quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock valued at $2,581,000 after buying an additional 62,343 shares during the last quarter.
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, with activities concentrated primarily in Ohio and West Virginia.
Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.
The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.
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