Royal Bank Of Canada Issues Pessimistic Forecast for Infinity Natural Resources (NYSE:INR) Stock Price

Infinity Natural Resources (NYSE:INR) had its price objective reduced by Royal Bank Of Canada from $22.00 to $21.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 54.68% from the company’s current price.

INR has been the subject of a number of other research reports. Weiss Ratings raised shares of Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Texas Capital upgraded shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Raymond James Financial lowered their price target 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. Zacks Research lowered shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Finally, Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

Infinity Natural Resources Stock Performance

NYSE:INR opened at $13.58 on Wednesday. The business has a 50 day moving average of $14.01 and a 200 day moving average of $14.30. The company has a market capitalization of $860.99 million, a price-to-earnings ratio of 5.53 and a beta of -0.30. Infinity Natural Resources has a 1-year low of $11.13 and a 1-year high of $19.58. 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 (NYSE:INR) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The business 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%. On average, sell-side analysts predict that Infinity Natural Resources will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Scott Gieselman bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were bought at an average cost of $13.06 per share, with a total value of $130,600.00. Following the completion of the purchase, the director directly owned 123,467 shares in the company, valued at $1,612,479.02. This represents a 8.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Cary D. Baetz purchased 22,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average price of $13.44 per share, with a total value of $295,680.00. Following the completion of the acquisition, the chief financial officer directly owned 22,000 shares in the company, valued at $295,680. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 50,783 shares of company stock valued at $663,625. Insiders own 40.90% of the company’s stock.

Hedge Funds Weigh In On Infinity Natural Resources

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings 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. Engineers Gate Manager LP bought a new stake in shares of Infinity Natural Resources in the 2nd quarter worth approximately $139,000. Quantinno Capital Management LP increased its stake in shares of Infinity Natural Resources by 28.5% during the first quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock valued at $853,000 after buying an additional 10,746 shares during the period. Royal Bank of Canada increased its stake in shares of Infinity Natural Resources by 116.3% during the first quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock valued at $1,056,000 after buying an additional 32,227 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings 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 valued at $1,136,000 after acquiring an additional 1,429 shares in the last quarter.

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, 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.