Insider Buying: Infinity Natural Resources (NYSE:INR) Director Buys 44,000 Shares of Stock

Infinity Natural Resources Inc. (NYSE:INR) Director William Quinn purchased 44,000 shares of Infinity Natural Resources stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $13.19 per share, with a total value of $580,360.00. Following the acquisition, the director directly owned 54,503 shares of the company’s stock, valued at $718,894.57. The trade was a 418.93% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Infinity Natural Resources Trading Up 3.1%

NYSE INR traded up $0.41 on Monday, hitting $13.57. 599,743 shares of the stock traded hands, compared to its average volume of 460,607. The company has a 50-day moving average price of $15.65. Infinity Natural Resources Inc. has a twelve month low of $11.13 and a twelve month high of $19.90. The stock has a market capitalization of $862.36 million, a P/E ratio of 2.68 and a beta of -0.54. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%.The firm had revenue of $117.06 million for the quarter. As a group, equities research analysts expect that Infinity Natural Resources Inc. will post 3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INR has been the topic of several research reports. KeyCorp upped their price objective on Infinity Natural Resources from $22.00 to $24.00 and gave the company an “overweight” rating in a research note 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. Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Monday, May 4th. Zacks Research cut Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Citigroup cut their price objective on Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Infinity Natural Resources has an average rating of “Hold” and a consensus target price of $22.00.

Institutional Trading of Infinity Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in INR. CIBC Private Wealth Group LLC raised its position in shares of Infinity Natural Resources by 87.5% during the 4th 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 period. Renaissance Technologies LLC raised its position in shares of Infinity Natural Resources by 285.3% during the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock worth $5,936,000 after purchasing an additional 249,600 shares during the period. Thomist Capital Management LP acquired a new stake in shares of Infinity Natural Resources during the 4th quarter worth approximately $3,082,000. Sei Investments Co. raised its position in shares of Infinity Natural Resources by 153.6% during the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after purchasing an additional 166,810 shares during the period. Finally, Bank of America Corp DE raised its position 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 purchasing an additional 165,690 shares during the period.

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.