Infinity Natural Resources (NYSE:INR) Trading Down 4.6% – Here’s What Happened

Infinity Natural Resources Inc. (NYSE:INR)’s share price traded down 4.6% during mid-day trading on Wednesday . The stock traded as low as $15.20 and last traded at $15.1750. 219,105 shares traded hands during trading, a decline of 21% from the average session volume of 278,249 shares. The stock had previously closed at $15.91.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Wall Street Zen cut shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Citigroup lifted their price objective on shares of Infinity Natural Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. KeyCorp lifted their price objective on shares of Infinity Natural Resources from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Infinity Natural Resources in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Infinity Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Infinity Natural Resources Price Performance

The stock has a 50-day simple moving average of $16.78. The firm has a market cap of $963.83 million, a P/E ratio of 5.41 and a beta of -0.33. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. The company had revenue of $117.06 million for the quarter. As a group, sell-side analysts expect that Infinity Natural Resources Inc. will post 3.49 EPS for the current year.

Insiders Place Their Bets

In related news, insider David Sproule sold 275,000 shares of the business’s stock in a transaction on 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 accessible through this link. Corporate insiders own 40.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Infinity Natural Resources by 103.5% during the first 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 last quarter. Royal Bank of Canada increased its position in Infinity Natural Resources by 116.3% during 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. Quantinno Capital Management LP increased 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 during the last quarter. Lazard Asset Management LLC increased its position in Infinity Natural Resources by 618.9% during the first quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock valued at $1,878,000 after acquiring an additional 91,823 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after acquiring an additional 249,600 shares during the last quarter.

About Infinity Natural Resources

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.