Infinity Natural Resources (NYSE:INR) Shares Down 5.2% – Should You Sell?

Infinity Natural Resources Inc. (NYSE:INR) was down 5.2% during mid-day trading on Wednesday . The stock traded as low as $13.96 and last traded at $13.90. 68,692 shares traded hands during trading, a decline of 77% from the average session volume of 302,494 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INR shares. Weiss Ratings raised shares of Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 13th. Citigroup reissued a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $27.00 price target on shares of Infinity Natural Resources in a report on Tuesday, July 7th. Raymond James Financial dropped their price objective on shares of Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 8th. Finally, Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Infinity Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Infinity Natural Resources Stock Performance

The stock has a market capitalization of $820.02 million, a price-to-earnings ratio of 5.17 and a beta of -0.42. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $13.97 and a 200 day moving average of $14.89.

Infinity Natural Resources (NYSE:INR) last released its earnings results on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $171.02 million for the quarter. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. On average, analysts expect that Infinity Natural Resources Inc. will post 3.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new position in Infinity Natural Resources in the second quarter valued at about $139,000. Public Employees Retirement System of Ohio acquired a new position in shares of Infinity Natural Resources during the 2nd quarter worth about $1,116,000. Bank of New York Mellon Corp bought a new stake in shares of Infinity Natural Resources in the 2nd quarter valued at about $892,000. Versant Capital Management Inc increased its stake in shares of Infinity Natural Resources by 76.8% in the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock valued at $48,000 after acquiring an additional 1,649 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Infinity Natural Resources by 103.5% in the 1st quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after acquiring an additional 165,690 shares during the period.

About Infinity Natural Resources

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.