Infinity Natural Resources (NYSE:INR) Shares Gap Up on Insider Buying Activity

Infinity Natural Resources Inc. (NYSE:INR)’s stock price gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $13.52, but opened at $14.31. Infinity Natural Resources shares last traded at $14.0450, with a volume of 49,397 shares trading hands.

Specifically, Director Scott Gieselman bought 20,000 shares of Infinity Natural Resources stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $14.10 per share, for a total transaction of $282,000.00. Following the completion of the acquisition, the director directly owned 70,900 shares of the company’s stock, valued at approximately $999,690. This trade represents a 39.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

INR has been the topic of a number of research analyst reports. Citigroup lifted their price target on Infinity Natural Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp raised their price objective on Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Wall Street Zen cut Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Infinity Natural Resources in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.50.

Infinity Natural Resources Stock Performance

The stock has a market capitalization of $879.19 million, a price-to-earnings ratio of 4.94 and a beta of -0.33. The company’s 50 day moving average is $16.33. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98.

Infinity Natural Resources (NYSE:INR) last issued its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.67. The firm had revenue of $117.06 million for the quarter. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. As a group, analysts expect that Infinity Natural Resources Inc. will post 3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation National Association UT acquired a new stake in shares of Infinity Natural Resources in the 4th quarter valued at $75,000. Connors Investor Services Inc. acquired a new stake in shares of Infinity Natural Resources in the fourth quarter worth about $191,000. Lazard Asset Management LLC bought a new stake in shares of Infinity Natural Resources during the 4th quarter worth about $219,000. Invesco Ltd. increased its holdings in shares of Infinity Natural Resources by 18.6% during the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock valued at $248,000 after acquiring an additional 2,643 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Infinity Natural Resources by 51.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,246 shares of the company’s stock valued at $254,000 after acquiring an additional 5,891 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.