Infinity Natural Resources Inc. (NYSE:INR) Stock Has Consensus Price Target of $24.00

Shares of Infinity Natural Resources Inc. (NYSE:INR) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.00.

Several equities research analysts recently commented on the company. Raymond James Financial dropped their price objective on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 8th. Stephens decreased their target price on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Zacks Research cut shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Citigroup reaffirmed a “buy” rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price target on shares of Infinity Natural Resources in a research note on Tuesday, July 7th.

Infinity Natural Resources Stock Performance

Shares of Infinity Natural Resources stock opened at $13.54 on Monday. The stock has a market cap of $859.02 million, a price-to-earnings ratio of 5.42 and a beta of -0.30. The firm’s 50-day moving average is $13.96 and its 200 day moving average is $14.41. 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 announced its quarterly earnings data on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The company 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%. Sell-side analysts anticipate that Infinity Natural Resources will post 3.43 EPS for the current fiscal year.

Insider Activity at Infinity Natural Resources

In related news, Director Scott Gieselman bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average cost of $13.06 per share, for a total transaction of $130,600.00. Following the purchase, the director owned 123,467 shares in the company, valued at approximately $1,612,479.02. This represents a 8.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary D. Baetz purchased 22,000 shares of the stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 22,000 shares in the company, valued at approximately $295,680. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 50,783 shares of company stock worth $663,625 in the last 90 days. 40.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Infinity Natural Resources

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in Infinity Natural Resources by 285.3% in the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after acquiring an additional 249,600 shares during the period. Bank of America Corp DE grew its stake in shares of Infinity Natural Resources by 103.5% during 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 during the period. Sei Investments Co. increased its position in shares of Infinity Natural Resources by 153.6% during 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 during the last quarter. CI Investments Inc. increased its position 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 valued at $4,845,000 after purchasing an additional 8,673 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Infinity Natural Resources by 74.0% in the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock worth $2,581,000 after purchasing an additional 62,343 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, 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.