Infinity Natural Resources (NYSE:INR) Price Target Raised to $24.00

Infinity Natural Resources (NYSE:INR) had its price objective hoisted by KeyCorp from $22.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 40.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings assumed coverage on shares of Infinity Natural Resources in a report on Thursday, February 5th. They issued a “sell (d)” rating for the company. Zacks Research cut shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Wall Street Zen raised Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Citigroup raised their price objective on Infinity Natural Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Infinity Natural Resources currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Infinity Natural Resources Price Performance

Shares of NYSE:INR opened at $17.09 on Thursday. Infinity Natural Resources has a 1 year low of $11.13 and a 1 year high of $19.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $1.08 billion, a PE ratio of 19.42 and a beta of -0.11.

Infinity Natural Resources (NYSE:INR) last issued its earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.67. The business had revenue of $117.06 million during the quarter. Infinity Natural Resources had a return on equity of 10.40% and a net margin of 4.04%.

Insider Buying and Selling at Infinity Natural Resources

In related news, insider David Sproule sold 275,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total value of $4,793,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Trading of Infinity Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CI Investments Inc. lifted its holdings in shares of Infinity Natural Resources by 39.0% in the fourth quarter. CI Investments Inc. now owns 266,459 shares of the company’s stock valued at $3,925,000 after purchasing an additional 74,812 shares in the last quarter. Thomist Capital Management LP bought a new stake in Infinity Natural Resources during the fourth quarter worth $3,082,000. Trexquant Investment LP grew its holdings in Infinity Natural Resources by 133.9% during the fourth quarter. Trexquant Investment LP now owns 191,175 shares of the company’s stock worth $2,816,000 after buying an additional 109,454 shares in the last quarter. Nuveen LLC raised its position in Infinity Natural Resources by 448.4% in the 4th quarter. Nuveen LLC now owns 182,098 shares of the company’s stock valued at $2,682,000 after buying an additional 148,895 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Infinity Natural Resources by 42.5% during the 4th quarter. Renaissance Technologies LLC now owns 87,500 shares of the company’s stock valued at $1,289,000 after acquiring an additional 26,100 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.