Zacks Research Downgrades Infinity Natural Resources (NYSE:INR) to Strong Sell

Infinity Natural Resources (NYSE:INR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other analysts have also issued research reports about the stock. 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 report on Wednesday, July 8th. Stephens decreased their price objective on 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 reissued a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings raised Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Two 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Infinity Natural Resources Stock Performance

NYSE INR opened at $12.70 on Monday. Infinity Natural Resources has a 1-year low of $11.13 and a 1-year high of $19.58. The company has a 50 day moving average of $13.95 and a 200-day moving average of $14.62. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The firm has a market cap of $805.69 million, a price-to-earnings ratio of 5.08 and a beta of -0.42.

Infinity Natural Resources (NYSE:INR) last released its quarterly earnings results on Monday, August 10th. The company reported $0.88 EPS 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 business had revenue of $171.02 million for the quarter. On average, equities analysts forecast that Infinity Natural Resources will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Infinity Natural Resources

In related news, CFO Cary Baetz bought 22,000 shares of Infinity Natural Resources stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average cost of $13.44 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Gieselman purchased 10,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $13.06 per share, for a total transaction of $130,600.00. Following the purchase, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 50,783 shares of company stock worth $663,625 over the last ninety days. 40.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Infinity Natural Resources

Several hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP acquired a new stake in shares of Infinity Natural Resources in the second quarter valued at approximately $139,000. Public Employees Retirement System of Ohio acquired a new position in Infinity Natural Resources during the second quarter worth $1,116,000. Bank of New York Mellon Corp acquired a new position in Infinity Natural Resources during the second quarter worth $892,000. Versant Capital Management Inc grew its position in 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 purchasing an additional 1,649 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in 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 buying an additional 165,690 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 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.