Insider Buying: Infinity Natural Resources (NYSE:INR) CFO Acquires 22,000 Shares of Stock

Infinity Natural Resources Inc. (NYSE:INR) CFO Cary Baetz acquired 22,000 shares of Infinity Natural Resources stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $13.44 per share, for a total transaction of $295,680.00. Following the purchase, the chief financial officer directly owned 22,000 shares of the company’s stock, valued at approximately $295,680. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Infinity Natural Resources Trading Down 4.1%

INR stock traded down $0.54 during midday trading on Monday, hitting $12.52. The stock had a trading volume of 244,541 shares, compared to its average volume of 310,463. The firm has a market cap of $794.21 million, a PE ratio of 5.01 and a beta of -0.42. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.87 and a quick ratio of 0.87. Infinity Natural Resources Inc. has a 12-month low of $11.13 and a 12-month high of $19.58. The company’s 50-day moving average price is $13.98 and its 200 day moving average price is $14.69.

Infinity Natural Resources (NYSE:INR) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Infinity Natural Resources had a return on equity of 33.39% and a net margin of 11.64%.The company had revenue of $171.02 million for the quarter. On average, equities research analysts predict that Infinity Natural Resources Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INR has been the topic of several recent analyst reports. Weiss Ratings upgraded Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Raymond James Financial dropped their price objective on shares of Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 8th. Stephens decreased their target price on shares of Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Finally, Texas Capital raised shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased 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 worth $5,936,000 after acquiring an additional 249,600 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Infinity Natural Resources by 103.5% in 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 in the last quarter. Sei Investments Co. lifted its stake in shares of Infinity Natural Resources by 153.6% in the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock valued at $4,850,000 after purchasing an additional 166,810 shares in the last quarter. CI Investments Inc. grew its holdings in shares of Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock worth $4,845,000 after purchasing an additional 8,673 shares during the period. Finally, 1492 Capital Management LLC grew its holdings in shares of Infinity Natural Resources by 5.6% during the 4th quarter. 1492 Capital Management LLC now owns 259,091 shares of the company’s stock worth $3,816,000 after purchasing an additional 13,759 shares during the period.

About Infinity Natural Resources

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.