Key Points
- CFO Cary Baetz purchased 22,000 shares of Infinity Natural Resources at an average price of $13.44, investing $295,680 and bringing his ownership to 22,000 shares.
- Infinity Natural Resources reported quarterly EPS of $0.88, exceeding analyst expectations of $0.86, on revenue of $171.02 million; analysts project $3.43 in full-year EPS.
- Wall Street maintains a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $24, compared with the stock’s reported opening price of $12.52.
Infinity Natural Resources Inc. (NYSE:INR - Get Free Report) CFO Cary Baetz acquired 22,000 shares of the stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $13.44 per share, with a total value of $295,680.00. Following the purchase, the chief financial officer owned 22,000 shares in the company, valued at $295,680. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Infinity Natural Resources Stock Performance
Shares of INR opened at $12.52 on Tuesday. The business's 50 day moving average is $13.97 and its two-hundred day moving average is $14.66. Infinity Natural Resources Inc. has a 52-week low of $11.13 and a 52-week high of $19.58. The firm has a market cap of $794.21 million, a price-to-earnings ratio of 5.01 and a beta of -0.42. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.35.
Infinity Natural Resources (NYSE:INR - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. The business had revenue of $171.02 million during the quarter. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. Analysts forecast that Infinity Natural Resources Inc. will post 3.43 EPS for the current fiscal year.
Institutional Trading of Infinity Natural Resources
Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Infinity Natural Resources by 285.3% in the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company's stock worth $5,936,000 after buying an additional 249,600 shares during the last quarter. Bank of America Corp DE grew its position in shares of 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 last quarter. Sei Investments Co. raised its stake in Infinity Natural Resources by 153.6% during the first quarter. Sei Investments Co. now owns 275,422 shares of the company's stock worth $4,850,000 after acquiring an additional 166,810 shares during the period. CI Investments Inc. lifted its holdings in Infinity Natural Resources by 3.3% in the first quarter. CI Investments Inc. now owns 275,132 shares of the company's stock worth $4,845,000 after acquiring an additional 8,673 shares during the last quarter. Finally, 1492 Capital Management LLC lifted its holdings in Infinity Natural Resources by 5.6% in the fourth quarter. 1492 Capital Management LLC now owns 259,091 shares of the company's stock worth $3,816,000 after acquiring an additional 13,759 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Citigroup reissued a "buy" rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Stephens cut their target price on shares of Infinity Natural Resources from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Texas Capital raised shares of Infinity Natural Resources to a "strong-buy" rating in a research report on Thursday, June 25th. Raymond James Financial decreased their price target on Infinity Natural Resources from $30.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $27.00 price objective on shares of Infinity Natural Resources in a report on Tuesday, July 7th. Two investment 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 company. According to MarketBeat.com, Infinity Natural Resources has a consensus rating of "Moderate Buy" and an average target price of $24.00.
Check Out Our Latest Stock Analysis on Infinity Natural Resources
About Infinity Natural Resources
(
Get Free Report)
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.
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