Infinity Natural Resources (NYSE:INR) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Infinity Natural Resources (NYSE:INR) issued its quarterly earnings results on Monday. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02, Zacks reports. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 37.92%. The firm had revenue of $171.02 million during the quarter.

Infinity Natural Resources Trading Down 1.7%

Shares of NYSE:INR traded down $0.24 on Wednesday, reaching $13.78. 8,955 shares of the company were exchanged, compared to its average volume of 314,089. The stock’s 50-day simple moving average is $12.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $875.44 million, a price-to-earnings ratio of 5.51 and a beta of -0.52. Infinity Natural Resources has a 1-year low of $11.13 and a 1-year high of $19.58.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INR. Citigroup restated a “buy” rating on shares of Infinity Natural Resources in a research note on Tuesday, July 14th. Raymond James Financial dropped their price objective on shares of 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. Texas Capital upgraded shares of Infinity Natural Resources to a “strong-buy” rating in a research report on Thursday, June 25th. 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. Finally, Zacks Research lowered shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Infinity Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity at Infinity Natural Resources

In related news, Director Scott Gieselman bought 10,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was bought at an average cost of $12.94 per share, with a total value of $129,400.00. Following the completion of the acquisition, the director owned 95,000 shares in the company, valued at approximately $1,229,300. This represents a 11.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven D. Gray bought 25,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $12.81 per share, with a total value of $320,250.00. Following the completion of the acquisition, the director owned 40,000 shares of the company’s stock, valued at $512,400. This represents a 166.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 111,400 shares of company stock worth $1,483,841 over the last three months. 40.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Infinity Natural Resources

Hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its position 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 worth $10,540,000 after purchasing an additional 333,972 shares in the last quarter. Thomist Capital Management LP purchased a new position in shares of Infinity Natural Resources in the fourth quarter valued at $3,082,000. Nuveen LLC raised its stake in shares of Infinity Natural Resources by 448.4% during the 4th quarter. Nuveen LLC now owns 182,098 shares of the company’s stock worth $2,682,000 after buying an additional 148,895 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Infinity Natural Resources by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company’s stock worth $19,136,000 after buying an additional 137,247 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Infinity Natural Resources by 133.9% in the 4th quarter. Trexquant Investment LP now owns 191,175 shares of the company’s stock worth $2,816,000 after buying an additional 109,454 shares in the last quarter.

Infinity Natural Resources Company Profile

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.