Infinity Natural Resources (NYSE:INR) Rating Lowered to Strong Sell at Zacks Research

Infinity Natural Resources (NYSE:INR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

Several other equities research analysts also recently commented on the stock. Weiss Ratings upgraded shares of Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Texas Capital upgraded shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Stephens reduced their target price on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Citigroup reaffirmed a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Finally, Raymond James Financial lowered their price target on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Infinity Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Infinity Natural Resources Trading Up 1.4%

Shares of INR opened at $12.70 on Monday. The business’s 50-day moving average price is $13.95 and its 200 day moving average price is $14.62. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $805.69 million, a P/E ratio of 5.08 and a beta of -0.42. 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 quarterly earnings data on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. The company had revenue of $171.02 million during the quarter. Analysts expect that Infinity Natural Resources will post 3.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott Gieselman purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average cost of $13.06 per share, with a total value of $130,600.00. Following the completion of the purchase, the director owned 123,467 shares of the company’s stock, valued at $1,612,479.02. The trade was a 8.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary D. Baetz acquired 22,000 shares of Infinity Natural Resources stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $13.44 per share, with a total value of $295,680.00. Following the transaction, the chief financial officer owned 22,000 shares of the company’s stock, valued at approximately $295,680. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 50,783 shares of company stock valued at $663,625 in the last three months. Company insiders own 40.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Infinity Natural Resources by 76.8% during the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock valued at $48,000 after buying an additional 1,649 shares during the last quarter. Engineers Gate Manager LP bought a new position in Infinity Natural Resources during the second quarter valued at approximately $139,000. Quantinno Capital Management LP raised its position in Infinity Natural Resources by 28.5% during 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 in the last quarter. Amova Asset Management Americas Inc. lifted its stake in Infinity Natural Resources by 24.8% in the fourth quarter. Amova Asset Management Americas Inc. now owns 53,141 shares of the company’s stock valued at $782,000 after acquiring an additional 10,576 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Infinity Natural Resources by 116.3% in the first quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock valued at $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.