Infinity Natural Resources (NYSE:INR) Announces Earnings Results, Beats Expectations By $0.02 EPS

Infinity Natural Resources (NYSE:INR) posted its earnings results on Monday. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02, Zacks reports. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. The business had revenue of $171.02 million for the quarter.

Infinity Natural Resources Stock Performance

Infinity Natural Resources stock traded up $0.93 during mid-day trading on Monday, hitting $13.91. 331,225 shares of the company traded hands, compared to its average volume of 314,795. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98. Infinity Natural Resources has a one year low of $11.13 and a one year high of $19.58. The firm has a market capitalization of $883.70 million, a PE ratio of 4.97 and a beta of -0.52. The business’s fifty day moving average price is $12.95.

Analysts Set New Price Targets

A number of research analysts have recently commented on INR shares. Texas Capital upgraded shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Stephens lowered their price objective on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a research report on Tuesday, July 14th. Wall Street Zen lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $27.00 target price on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has 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 target price of $24.00.

Insider Activity at Infinity Natural Resources

In related news, Director Scott Gieselman acquired 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $14.10 per share, for a total transaction of $282,000.00. Following the transaction, the director owned 70,900 shares in the company, valued at $999,690. This represents a 39.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Poole acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were bought at an average cost of $13.99 per share, with a total value of $104,925.00. Following the completion of the acquisition, the director directly owned 23,646 shares in the company, valued at $330,807.54. The trade was a 46.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 111,400 shares of company stock worth $1,483,841 over the last quarter. 40.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Infinity Natural Resources

Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in shares of Infinity Natural Resources during the 4th quarter valued at about $75,000. Lazard Asset Management LLC bought a new stake in Infinity Natural Resources in the 4th quarter worth approximately $219,000. Invesco Ltd. lifted its position in Infinity Natural Resources by 18.6% in the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock worth $248,000 after buying an additional 2,643 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Infinity Natural Resources by 51.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,246 shares of the company’s stock worth $254,000 after buying an additional 5,891 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Infinity Natural Resources in the fourth quarter worth approximately $254,000.

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.