Sanders Morris Harris LLC Makes New Investment in Infinity Natural Resources Inc. $INR

Sanders Morris Harris LLC purchased a new position in Infinity Natural Resources Inc. (NYSE:INR) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 104,585 shares of the company’s stock, valued at approximately $1,318,000.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in 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 period. Bank of America Corp DE grew its stake in shares of Infinity Natural Resources by 103.5% during the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after buying an additional 165,690 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Infinity Natural Resources by 153.6% in the first quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after buying an additional 166,810 shares during the period. CI Investments Inc. increased its holdings in shares of Infinity Natural Resources by 3.3% in the first 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 period. Finally, Walleye Capital LLC lifted its stake in shares of Infinity Natural Resources by 74.0% in the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock valued at $2,581,000 after acquiring an additional 62,343 shares during the last quarter.

Infinity Natural Resources Trading Down 4.4%

Infinity Natural Resources stock traded down $0.61 during trading hours on Wednesday, reaching $13.28. The stock had a trading volume of 344,945 shares, compared to its average volume of 306,644. The stock has a market cap of $842.15 million, a PE ratio of 5.31 and a beta of -0.30. Infinity Natural Resources Inc. has a 52 week low of $11.13 and a 52 week high of $19.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day simple moving average of $14.01 and a 200-day simple moving average of $14.30.

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

Insider Activity

In other Infinity Natural Resources news, CFO Cary D. Baetz purchased 22,000 shares of the stock in a transaction on Thursday, September 24th. The stock was acquired at an average price of $13.44 per share, with a total value of $295,680.00. Following the transaction, the chief financial officer directly owned 22,000 shares of the company’s stock, valued at approximately $295,680. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Gieselman purchased 10,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were acquired at an average cost of $13.06 per share, with a total value of $130,600.00. Following the transaction, the director directly owned 123,467 shares in the company, valued at $1,612,479.02. The trade was a 8.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 50,783 shares of company stock worth $663,625 over the last three months. 40.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INR has been the subject of several analyst reports. Raymond James Financial dropped 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. Royal Bank Of Canada decreased their price target on Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Zacks Research downgraded Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Finally, Scotiabank initiated coverage on Infinity Natural Resources in a research note on Wednesday. They set an “outperform” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Infinity Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $21.83.

Infinity Natural Resources Profile

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, with activities concentrated primarily in Ohio and West Virginia.

Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.

The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.