Infinity Natural Resources (NYSE:INR) Rating Increased to Strong-Buy at Texas Capital

Infinity Natural Resources (NYSE:INR) was upgraded by investment analysts at Texas Capital to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Citigroup decreased their target price on shares of Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Wall Street Zen lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. KeyCorp boosted their price objective on Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Zacks Research cut Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated 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 assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Infinity Natural Resources has an average rating of “Moderate Buy” and an average target price of $22.00.

Infinity Natural Resources Stock Up 1.9%

INR stock opened at $12.95 on Thursday. Infinity Natural Resources has a 52 week low of $11.13 and a 52 week high of $19.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.98. The company’s fifty day simple moving average is $14.47. The company has a market capitalization of $822.90 million, a price-to-earnings ratio of 4.63 and a beta of -0.54.

Insider Activity

In other news, Director William J. Quinn bought 44,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $13.19 per share, for a total transaction of $580,360.00. Following the acquisition, the director owned 54,503 shares of the company’s stock, valued at $718,894.57. The trade was a 418.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven D. Gray purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $12.81 per share, with a total value of $320,250.00. Following the completion of the purchase, the director owned 40,000 shares in the company, valued at $512,400. This trade represents a 166.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 111,400 shares of company stock worth $1,483,841. 40.90% of the stock is currently owned by insiders.

Institutional Trading of Infinity Natural Resources

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Infinity Natural Resources by 87.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock worth $10,540,000 after purchasing an additional 333,972 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 249,600 shares during the last quarter. Thomist Capital Management LP purchased a new stake in shares of Infinity Natural Resources in the fourth quarter worth approximately $3,082,000. Sei Investments Co. raised its holdings in shares of Infinity Natural Resources by 153.6% in the first quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after buying an additional 166,810 shares during the period. Finally, Bank of America Corp DE lifted its stake 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 worth $5,736,000 after acquiring an additional 165,690 shares during the last quarter.

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.