Infinity Natural Resources (NYSE:INR) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Infinity Natural Resources (NYSE:INR) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks reports.

Other analysts have also recently issued research reports about the stock. 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 reaffirmed a “buy” rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price target on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Finally, Texas Capital upgraded 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Infinity Natural Resources Stock Performance

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

Infinity Natural Resources (NYSE:INR) last posted its 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 during the quarter. Research analysts expect that Infinity Natural Resources will post 3.43 EPS for the current year.

Insider Transactions at Infinity Natural Resources

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

Institutional Investors Weigh In On Infinity Natural Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of Infinity Natural Resources by 76.8% in 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 last quarter. Engineers Gate Manager LP acquired a new stake in Infinity Natural Resources in the second quarter valued at about $139,000. Quantinno Capital Management LP grew its position in Infinity Natural Resources by 28.5% in the first quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock valued at $853,000 after acquiring an additional 10,746 shares during the last quarter. Amova Asset Management Americas Inc. raised its stake in 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 acquiring an additional 10,576 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Infinity Natural Resources by 116.3% in the first quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock worth $1,056,000 after acquiring an additional 32,227 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.