Infinity Natural Resources (NYSE:INR) Shares Gap Up After Insider Buying Activity

Infinity Natural Resources Inc. (NYSE:INR) shares gapped up before the market opened on Thursday after an insider bought additional shares in the company. 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 traded.

Specifically, Director Scott Gieselman bought 10,000 shares of Infinity Natural Resources stock in a transaction on Tuesday, September 22nd. The shares were bought at an average cost of $13.06 per share, for a total transaction of $130,600.00. Following the acquisition, the director owned 123,467 shares in the company, valued at approximately $1,612,479.02. This trade represents a 8.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott Gieselman purchased 18,467 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of $12.62 per share, for a total transaction of $233,053.54. Following the completion of the purchase, the director directly owned 113,467 shares in the company, valued at $1,431,953.54. The trade was a 19.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on INR shares. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Raymond James Financial decreased their price objective on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 target price on shares of Infinity Natural Resources in a research note on Tuesday, July 7th. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a report on Thursday, June 25th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Infinity Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Infinity Natural Resources Trading Up 1.7%

The firm’s 50 day simple moving average is $13.97 and its 200-day simple moving average is $14.76. The company has a market capitalization of $840.40 million, a PE ratio of 5.30 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 (NYSE:INR) last issued its 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. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. The business had revenue of $171.02 million for the quarter. As a group, equities research analysts anticipate that Infinity Natural Resources Inc. will post 3.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of Infinity Natural Resources by 76.8% in the second quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock valued at $48,000 after buying an additional 1,649 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Infinity Natural Resources in the second quarter valued at approximately $139,000. Bleakley Financial Group LLC purchased a new stake in shares of Infinity Natural Resources during the fourth quarter valued at approximately $610,000. Quantinno Capital Management LP raised 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 purchasing an additional 10,746 shares during the period. Finally, Amova Asset Management Americas Inc. lifted its position in shares of Infinity Natural Resources by 24.8% during the fourth quarter. Amova Asset Management Americas Inc. now owns 53,141 shares of the company’s stock worth $782,000 after purchasing an additional 10,576 shares in 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 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.