Lazard Asset Management LLC Acquires 91,823 Shares of Infinity Natural Resources Inc. $INR

Lazard Asset Management LLC increased its holdings in shares of Infinity Natural Resources Inc. (NYSE:INR) by 618.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,659 shares of the company’s stock after purchasing an additional 91,823 shares during the quarter. Lazard Asset Management LLC owned 0.17% of Infinity Natural Resources worth $1,878,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Infinity Natural Resources by 285.3% in 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. Sei Investments Co. raised its holdings in shares of Infinity Natural Resources by 153.6% during the first quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock worth $4,850,000 after acquiring an additional 166,810 shares during the period. Walleye Capital LLC lifted its position in 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 in the last quarter. CI Investments Inc. lifted its position in Infinity Natural Resources by 3.3% in the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock valued at $4,845,000 after acquiring an additional 8,673 shares in the last quarter. Finally, Amova Asset Management Americas Inc. boosted its stake in Infinity Natural Resources by 23.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 65,743 shares of the company’s stock worth $1,156,000 after purchasing an additional 12,602 shares during the period.

Infinity Natural Resources Price Performance

Infinity Natural Resources stock opened at $12.96 on Tuesday. The firm has a market cap of $823.60 million, a P/E ratio of 4.63 and a beta of -0.52. The business’s 50-day simple moving average is $13.02. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87. Infinity Natural Resources Inc. has a one year low of $11.13 and a one year high of $19.58.

Insider Buying and Selling

In related news, Director William J. Quinn purchased 44,000 shares of the stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $13.19 per share, with a total value of $580,360.00. Following the transaction, the director directly owned 54,503 shares of the company’s stock, valued at $718,894.57. This trade represents a 418.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Gieselman acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were bought at an average price of $12.94 per share, for a total transaction of $129,400.00. Following the purchase, the director owned 95,000 shares in the company, valued at approximately $1,229,300. This represents a 11.76% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 111,400 shares of company stock worth $1,483,841. Insiders own 40.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on INR. 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 research note on Wednesday, July 8th. Stephens reduced their price objective on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a report on Thursday, June 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $27.00 target price on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, four have issued 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 currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.