Infinity Natural Resources (NYSE:INR) Downgraded to “Hold” Rating by Zacks Research

Infinity Natural Resources (NYSE:INR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. KeyCorp raised their price target on Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Wall Street Zen lowered shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Citigroup raised their target price on shares of Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.50.

Infinity Natural Resources Price Performance

Shares of INR stock opened at $13.59 on Tuesday. The firm has a market capitalization of $863.25 million, a price-to-earnings ratio of 4.85 and a beta of -0.33. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87. The business’s fifty day simple moving average is $16.33. Infinity Natural Resources has a 1-year low of $11.13 and a 1-year high of $19.90.

Infinity Natural Resources (NYSE:INR) last released its quarterly earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%.The company had revenue of $117.06 million during the quarter. Equities research analysts expect that Infinity Natural Resources will post 3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Infinity Natural Resources news, Director Scott Gieselman purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $14.10 per share, for a total transaction of $282,000.00. Following the completion of the acquisition, the director owned 70,900 shares of the company’s stock, valued at approximately $999,690. This represents a 39.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Sproule sold 275,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $4,793,250.00. Additional details regarding this sale are available in the official SEC disclosure. 40.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Infinity Natural Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in Infinity Natural Resources by 87.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock worth $10,540,000 after acquiring an additional 333,972 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock worth $5,936,000 after purchasing an additional 249,600 shares in the last quarter. Thomist Capital Management LP acquired a new position in shares of Infinity Natural Resources during the fourth quarter worth $3,082,000. Sei Investments Co. lifted its position in shares of Infinity Natural Resources by 153.6% during the first quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after purchasing an additional 166,810 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in 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 in the last quarter.

Infinity Natural Resources Company Profile

We are a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Additionally, we have proven our ability to grow our acreage position through organic leasing efforts and accretive acquisitions.