Infinity Natural Resources (NYSE:INR) Rating Lowered to “Hold” at Zacks Research

Infinity Natural Resources (NYSE:INR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

INR has been the topic of a number of other research reports. Citigroup increased their target price on Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Wall Street Zen downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report 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. Finally, KeyCorp lifted 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Infinity Natural Resources has an average rating of “Hold” and an average price target of $24.50.

Infinity Natural Resources Trading Down 1.3%

INR stock opened at $13.59 on Tuesday. Infinity Natural Resources has a twelve month low of $11.13 and a twelve month high of $19.90. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $863.25 million, a P/E ratio of 4.85 and a beta of -0.33. The stock’s 50 day moving average is $16.33.

Infinity Natural Resources (NYSE:INR) last posted its quarterly earnings results 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. 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%. On average, research analysts predict that Infinity Natural Resources will post 3.49 EPS for the current year.

Insider Buying and Selling at Infinity Natural Resources

In other news, insider David Sproule sold 275,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total value of $4,793,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Gieselman bought 20,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $14.10 per share, with a total value of $282,000.00. Following the transaction, the director owned 70,900 shares in the company, valued at approximately $999,690. This represents a 39.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 40.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its holdings in Infinity Natural Resources by 87.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock valued at $10,540,000 after acquiring an additional 333,972 shares during the period. Renaissance Technologies LLC increased its position in Infinity Natural Resources by 285.3% in the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock worth $5,936,000 after buying an additional 249,600 shares during the period. Thomist Capital Management LP acquired a new position in shares of Infinity Natural Resources during the fourth quarter worth approximately $3,082,000. Sei Investments Co. boosted its position 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 valued at $4,850,000 after acquiring an additional 166,810 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Infinity Natural Resources by 103.5% in the first quarter. Bank of America Corp DE now owns 325,748 shares of the company’s stock valued at $5,736,000 after acquiring 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.