Infinity Natural Resources (NYSE:INR) Trading Down 4.6% – Here’s What Happened

Infinity Natural Resources Inc. (NYSE:INR) shares were down 4.6% during mid-day trading on Wednesday . The company 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INR shares. Wall Street Zen downgraded shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Saturday. Citigroup raised their price objective on shares of Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. KeyCorp raised their price objective on shares of Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Zacks Research raised shares of Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Infinity Natural Resources in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Infinity Natural Resources Trading Down 4.5%

The stock has a market cap of $963.83 million, a P/E ratio of 5.41 and a beta of -0.33. The business has a 50 day moving average of $16.78. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87.

Infinity Natural Resources (NYSE:INR) last released its earnings results on Tuesday, March 10th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.67. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. The company had revenue of $117.06 million for the quarter. Sell-side analysts anticipate that Infinity Natural Resources Inc. will post 3.49 EPS for the current year.

Insider Buying and Selling

In other Infinity Natural Resources news, insider David Sproule sold 275,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total transaction of $4,793,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 40.90% of the company’s stock.

Institutional Investors Weigh In On Infinity Natural Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in 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 period. Royal Bank of Canada raised its position in shares of Infinity Natural Resources by 116.3% during the first quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock valued at $1,056,000 after buying an additional 32,227 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Infinity Natural Resources by 28.5% during the first quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock valued at $853,000 after buying an additional 10,746 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Infinity Natural Resources by 618.9% during the first quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock valued at $1,878,000 after buying an additional 91,823 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position 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.

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.