Insider Buying: Infinity Natural Resources (NYSE:INR) Director Acquires $320,250.00 in Stock

Infinity Natural Resources Inc. (NYSE:INR) Director Steven Gray bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $12.81 per share, with a total value of $320,250.00. Following the purchase, the director owned 40,000 shares in the company, valued at $512,400. This trade represents a 166.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Infinity Natural Resources Trading Down 0.1%

Shares of INR stock opened at $13.11 on Monday. The stock has a 50 day moving average price of $15.26. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87. Infinity Natural Resources Inc. has a 12 month low of $11.13 and a 12 month high of $19.90. The company has a market cap of $833.16 million, a P/E ratio of 4.68 and a beta of -0.54.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INR. Wall Street Zen cut shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. KeyCorp raised their target price on Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a research report on Monday, May 4th. Finally, Citigroup cut their target price on Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INR. 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 buying an additional 333,972 shares in the last quarter. Renaissance Technologies LLC raised 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 acquiring an additional 249,600 shares during the last quarter. Thomist Capital Management LP bought a new stake in shares of Infinity Natural Resources during the fourth quarter worth $3,082,000. Sei Investments Co. raised 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 acquiring an additional 166,810 shares during the last quarter. Finally, Bank of America Corp DE raised its position 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 acquiring an additional 165,690 shares during the last quarter.

About Infinity Natural Resources

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.