Insider Buying: Infinity Natural Resources (NYSE:INR) Director Purchases 18,467 Shares

Infinity Natural Resources Inc. (NYSE:INR) Director Scott Gieselman acquired 18,467 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was bought at an average price of $12.62 per share, with a total value of $233,053.54. Following the purchase, the director directly owned 113,467 shares in the company, valued at approximately $1,431,953.54. This trade represents a 19.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Scott Gieselman also recently made the following trade(s):

• On Tuesday, September 22nd, Scott Gieselman acquired 10,000 shares of Infinity Natural Resources stock. The shares were bought at an average cost of $13.06 per share, with a total value of $130,600.00.

Infinity Natural Resources Stock Up 0.2%

Shares of INR stock traded up $0.02 during trading hours on Wednesday, reaching $13.05. 210,475 shares of the stock were exchanged, compared to its average volume of 309,451. The business’s fifty day moving average is $13.96 and its two-hundred day moving average is $14.79. The firm has a market capitalization of $827.88 million, a P/E ratio of 5.22 and a beta of -0.42. Infinity Natural Resources Inc. has a 12-month low of $11.13 and a 12-month 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.

Infinity Natural Resources (NYSE:INR) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Infinity Natural Resources had a net margin of 11.64% and a return on equity of 33.39%. The company had revenue of $171.02 million during the quarter. As a group, research analysts expect that Infinity Natural Resources Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on INR. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Stephens cut their target price on Infinity Natural Resources from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Raymond James Financial lowered their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hedge Funds Weigh In On Infinity Natural Resources

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in shares of Infinity Natural Resources by 285.3% in the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock valued at $5,936,000 after purchasing an additional 249,600 shares during the last quarter. Sei Investments Co. grew its stake in Infinity Natural Resources by 153.6% during the 1st 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 last quarter. Bank of America Corp DE increased its position in 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 worth $5,736,000 after buying an additional 165,690 shares during the period. Lazard Asset Management LLC lifted its stake in Infinity Natural Resources by 618.9% in the first quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock valued at $1,878,000 after buying an additional 91,823 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Infinity Natural Resources in the second quarter valued at approximately $1,116,000.

Infinity Natural Resources Company 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 primarily in Ohio and West Virginia, where it targets formations including the Marcellus and Utica shales.

Its production portfolio includes natural gas, natural gas liquids and crude oil. Infinity Natural Resources is involved in the drilling, completion and operation of horizontal wells, as well as related gathering and infrastructure activities needed to transport its production to market.

The company was established in 2017 and has built its business around operated acreage and development opportunities in the Appalachian region.