Brokerages Set Infinity Natural Resources Inc. (NYSE:INR) Target Price at $24.00

Infinity Natural Resources Inc. (NYSE:INR) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

Several equities analysts have recently issued reports on INR shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Infinity Natural Resources in a report on Tuesday, July 7th. Raymond James Financial dropped their price target on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock 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. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Finally, Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a research note on Thursday, June 25th.

Institutional Trading of Infinity Natural Resources

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew 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 valued at $5,936,000 after acquiring an additional 249,600 shares during the period. Sei Investments Co. raised its holdings in shares of Infinity Natural Resources by 153.6% in 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. Bank of America Corp DE raised its holdings in shares of Infinity Natural Resources by 103.5% in 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. Lazard Asset Management LLC lifted its stake in Infinity Natural Resources by 618.9% in the first quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock valued at $1,878,000 after purchasing an additional 91,823 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Infinity Natural Resources during the second quarter valued at $1,116,000.

Infinity Natural Resources Stock Down 9.6%

INR opened at $13.27 on Thursday. Infinity Natural Resources has a fifty-two week low of $11.13 and a fifty-two week high of $19.58. The firm has a market capitalization of $841.39 million, a P/E ratio of 5.31 and a beta of -0.42. The company’s 50-day moving average is $13.96 and its 200 day moving average is $14.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.87 and a quick ratio of 0.87.

Infinity Natural Resources (NYSE:INR) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $171.02 million during the quarter. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. Research analysts expect that Infinity Natural Resources will post 3.43 earnings per share for the current fiscal year.

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.