Infinity Natural Resources (NYSE:INR) Trading Down 5.2% – Here’s What Happened

Infinity Natural Resources Inc. (NYSE:INR)’s stock price dropped 5.2% on Wednesday . The company traded as low as $13.96 and last traded at $13.90. 68,692 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 302,494 shares. The stock had previously closed at $14.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Texas Capital raised shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Raymond James Financial lowered their target price on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 8th. Weiss Ratings raised Infinity Natural Resources from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $27.00 price target on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Infinity Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Infinity Natural Resources Stock Performance

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $865.11 million, a PE ratio of 5.46 and a beta of -0.42. The firm has a fifty day moving average price of $13.96 and a 200 day moving average price of $14.93.

Infinity Natural Resources (NYSE:INR) last announced its 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 return on equity of 33.39% and a net margin of 11.64%. Research analysts forecast that Infinity Natural Resources Inc. will post 3.43 earnings per share for the current fiscal year.

Institutional Trading of Infinity Natural Resources

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Infinity Natural Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company’s stock worth $1,136,000 after purchasing an additional 1,429 shares during the last quarter. Versant Capital Management Inc increased its holdings in Infinity Natural Resources by 76.8% in the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock worth $48,000 after buying an additional 1,649 shares during the period. CI Investments Inc. raised its position in Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock worth $4,845,000 after buying an additional 8,673 shares during the last quarter. Amova Asset Management Americas Inc. raised its position in Infinity Natural Resources by 24.8% during the 4th quarter. Amova Asset Management Americas Inc. now owns 53,141 shares of the company’s stock worth $782,000 after buying an additional 10,576 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Infinity Natural Resources by 28.5% during the 1st 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 period.

About Infinity Natural Resources

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.