Infinity Natural Resources (NYSE:INR) Shares Down 6% – Here’s Why

Infinity Natural Resources Inc. (NYSE:INR)’s stock price was down 6% on Thursday . The company traded as low as $13.18 and last traded at $13.0350. Approximately 153,728 shares traded hands during trading, a decline of 48% from the average daily volume of 298,311 shares. The stock had previously closed at $13.86.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INR. Wall Street Zen lowered shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Citigroup decreased their price objective on shares of Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Zacks Research lowered shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. KeyCorp boosted their price objective on shares of Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Infinity Natural Resources in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Infinity Natural Resources currently has an average rating of “Hold” and an average target price of $22.00.

Infinity Natural Resources Price Performance

The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50-day simple moving average of $15.26. The company has a market capitalization of $833.13 million, a P/E ratio of 4.68 and a beta of -0.54.

Infinity Natural Resources (NYSE:INR) last released its quarterly earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.67. The company had revenue of $117.06 million during the quarter. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%. Equities research analysts forecast that Infinity Natural Resources Inc. will post 3.28 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott Gieselman bought 20,000 shares of Infinity Natural Resources stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $14.10 per share, for a total transaction of $282,000.00. Following the acquisition, the director owned 70,900 shares in the company, valued at approximately $999,690. This trade represents a 39.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William J. Quinn bought 44,000 shares of Infinity Natural Resources stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $13.19 per share, for a total transaction of $580,360.00. Following the completion of the acquisition, the director owned 54,503 shares in the company, valued at $718,894.57. This represents a 418.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 101,400 shares of company stock worth $1,354,441 in the last 90 days. 40.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Infinity Natural Resources by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company’s stock valued at $1,136,000 after purchasing an additional 1,429 shares in the last quarter. Barclays PLC lifted its holdings in Infinity Natural Resources by 10.5% in the 4th quarter. Barclays PLC now owns 24,458 shares of the company’s stock valued at $360,000 after purchasing an additional 2,334 shares in the last quarter. Invesco Ltd. lifted its holdings in Infinity Natural Resources by 18.6% in the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock valued at $248,000 after purchasing an additional 2,643 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Infinity Natural Resources by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 346,738 shares of the company’s stock valued at $5,109,000 after purchasing an additional 4,618 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Infinity Natural Resources in the 4th quarter valued at about $75,000.

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.