Infinity Natural Resources (NYSE:INR) Shares Down 4.6% – Here’s Why
by Scott Moore · The Cerbat GemInfinity Natural Resources Inc. (NYSE:INR – Get Free Report) was down 4.6% during trading on Wednesday . The stock traded as low as $15.20 and last traded at $15.1750. Approximately 219,105 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 278,249 shares. The stock had previously closed at $15.91.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on INR shares. KeyCorp upped their price target on Infinity Natural Resources from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Zacks Research upgraded Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Citigroup boosted their price objective on Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. Finally, Wall Street Zen cut shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Infinity Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $24.50.
Get Our Latest Analysis on INR
Infinity Natural Resources Trading Up 1.2%
The company’s 50 day simple moving average is $16.66. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $922.68 million, a P/E ratio of 5.20 and a beta of -0.33.
Infinity Natural Resources (NYSE:INR – Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.67. The business had revenue of $117.06 million during the quarter. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%. On average, equities analysts forecast that Infinity Natural Resources Inc. will post 3.49 EPS for the current fiscal year.
Insider Activity
In other news, insider David Sproule sold 275,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $4,793,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.90% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in Infinity Natural Resources by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company’s stock worth $19,136,000 after purchasing an additional 137,247 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Infinity Natural Resources by 87.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock valued at $10,540,000 after buying an additional 333,972 shares in the last quarter. Yaupon Capital Management LP increased its position in shares of Infinity Natural Resources by 25.2% in the 4th quarter. Yaupon Capital Management LP now owns 467,360 shares of the company’s stock valued at $6,884,000 after buying an additional 94,104 shares in the last quarter. Geode Capital Management LLC raised its stake in Infinity Natural Resources by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 346,738 shares of the company’s stock worth $5,109,000 after buying an additional 4,618 shares during the period. Finally, State Street Corp lifted its holdings in Infinity Natural Resources by 19.9% during the fourth quarter. State Street Corp now owns 343,138 shares of the company’s stock worth $5,054,000 after acquiring an additional 56,886 shares in 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.