Infinity Natural Resources (NYSE:INR) Stock Gets Price Target Cut from Royal Bank Of Canada

by · The Markets Daily

Infinity Natural Resources (NYSE:INR – Free Report) had its target price lowered by Royal Bank Of Canada from $22.00 to $21.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Stephens cut their price objective on shares of Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Zacks Research lowered shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Texas Capital raised shares of Infinity Natural Resources to a “strong-buy” rating in a report on Thursday, June 25th. Citigroup reissued a “buy” rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Finally, Raymond James Financial dropped their target price on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.83.

Check Out Our Latest Stock Analysis on Infinity Natural Resources

Infinity Natural Resources Price Performance

Shares of NYSE:INR opened at $13.40 on Wednesday. The firm has a market capitalization of $849.57 million, a PE ratio of 2.82 and a beta of -0.30. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $14.03 and a two-hundred day moving average price of $14.21. Infinity Natural Resources has a twelve month low of $11.13 and a twelve month high of $19.58.

Infinity Natural Resources (NYSE:INR – Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $171.02 million for the quarter. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. Equities analysts forecast that Infinity Natural Resources will post 3.43 EPS for the current year.

Insider Buying and Selling

In other news, CFO Cary D. Baetz bought 22,000 shares of the stock in a transaction on Thursday, September 24th. The shares were acquired 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 of the company’s stock, valued at $295,680. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Gieselman purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $13.06 per share, with a total value of $130,600.00. Following the completion of the acquisition, the director owned 123,467 shares in the company, valued at approximately $1,612,479.02. This trade represents a 8.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 50,783 shares of company stock worth $663,625 in the last ninety days. 40.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Infinity Natural Resources by 285.3% in the first 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 in the last quarter. Sei Investments Co. boosted 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 valued at $4,850,000 after buying an additional 166,810 shares during the period. Bank of America Corp DE boosted its stake 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 buying an additional 165,690 shares during the period. Sanders Morris Harris LLC purchased a new position in Infinity Natural Resources during the third quarter worth about $1,318,000. Finally, Lazard Asset Management LLC grew 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 worth $1,878,000 after buying an additional 91,823 shares in the last quarter.

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, with activities concentrated primarily in Ohio and West Virginia.

Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.

The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.

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