Infinity Natural Resources (NYSE:INR) Stock Rating Lowered by Zacks Research

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

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

Infinity Natural Resources Price Performance

INR stock opened at $13.59 on Tuesday. The stock has a 50 day moving average of $16.33. The company has a market cap of $863.25 million, a PE ratio of 4.85 and a beta of -0.33. Infinity Natural Resources has a fifty-two week low of $11.13 and a fifty-two week high of $19.90. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.98.

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

Insiders Place Their Bets

In related news, insider David Sproule sold 275,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total value of $4,793,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Gieselman acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $14.10 per share, with a total value of $282,000.00. Following the transaction, the director owned 70,900 shares in the company, valued at $999,690. This represents a 39.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 40.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Infinity Natural Resources

A number of large investors have recently modified their holdings of INR. CIBC Private Wealth Group LLC boosted its stake in shares of 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 buying an additional 333,972 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Infinity Natural Resources by 285.3% in the 1st 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. Thomist Capital Management LP bought a new position in Infinity Natural Resources in the 4th quarter valued at about $3,082,000. Sei Investments Co. raised its holdings in Infinity Natural Resources by 153.6% in the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock valued at $4,850,000 after acquiring an additional 166,810 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Infinity Natural Resources by 103.5% during the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock worth $5,736,000 after purchasing an additional 165,690 shares during the period.

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.