Infinity Natural Resources Inc. (NYSE:INR) Stock Has Average Target Price of $21.83

Infinity Natural Resources Inc. (NYSE:INR) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.83.

Several equities research analysts have commented on the company. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Zacks Research lowered Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Scotiabank initiated coverage on Infinity Natural Resources in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $17.00 price objective on the stock. Weiss Ratings upgraded Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Finally, Royal Bank Of Canada dropped their target price on shares of Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th.

Infinity Natural Resources Stock Performance

Infinity Natural Resources stock opened at $12.24 on Friday. Infinity Natural Resources has a fifty-two week low of $11.13 and a fifty-two week high of $19.58. The company has a market capitalization of $776.60 million, a price-to-earnings ratio of 4.90 and a beta of -0.43. The stock has a fifty day moving average of $13.91 and a two-hundred day moving average of $14.74. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $171.02 million for the quarter. On average, analysts anticipate that Infinity Natural Resources will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Scott Gieselman acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average price of $13.06 per share, for a total transaction of $130,600.00. Following the completion of the purchase, the director directly owned 123,467 shares of the company’s stock, valued at approximately $1,612,479.02. This trade represents a 8.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baetz purchased 22,000 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $13.44 per share, for a total transaction of $295,680.00. Following the purchase, the chief financial officer directly owned 22,000 shares in the company, valued at $295,680. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 50,783 shares of company stock worth $663,625. Company insiders own 40.90% of the company’s stock.

Hedge Funds Weigh In On Infinity Natural Resources

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position 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 buying an additional 249,600 shares in the last quarter. Sei Investments Co. increased its stake in Infinity Natural Resources by 153.6% during the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock valued at $4,850,000 after buying an additional 166,810 shares during the period. Bank of America Corp DE increased its stake in Infinity Natural Resources by 103.5% during the 1st quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after buying an additional 165,690 shares during the period. Sanders Morris Harris LLC bought a new stake in shares of Infinity Natural Resources during the 3rd quarter worth about $1,318,000. Finally, Lazard Asset Management LLC raised its position in shares of Infinity Natural Resources by 618.9% during the 1st quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock worth $1,878,000 after buying an additional 91,823 shares in the last quarter.

About Infinity Natural Resources

Infinity Natural Resources, Inc (NYSE: INR) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Appalachian Basin, one of the most significant hydrocarbon-producing regions in the United States.

Infinity Natural Resources primarily holds and develops acreage in West Virginia and Ohio. Its activities include drilling and completing horizontal wells, operating producing properties, and managing the infrastructure needed to gather and transport hydrocarbons to market.