Infinity Natural Resources (NYSE:INR) Announces Quarterly Earnings Results, Misses Expectations By $1.19 EPS

Infinity Natural Resources (NYSE:INR) issued its quarterly earnings results on Monday. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($1.19), FiscalAI reports. The company had revenue of $197.58 million during the quarter. Infinity Natural Resources had a return on equity of 33.39% and a net margin of 11.64%.

Infinity Natural Resources Trading Up 2.8%

NYSE:INR opened at $13.14 on Tuesday. Infinity Natural Resources has a 12 month low of $11.30 and a 12 month high of $19.58. The firm has a market cap of $833.66 million, a price-to-earnings ratio of 5.26 and a beta of -0.43. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.35. The company’s 50 day moving average is $13.82 and its 200-day moving average is $14.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their price target on shares of Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Zacks Research downgraded shares of Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 28th. Weiss Ratings raised Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 2nd. Finally, Scotiabank assumed coverage on Infinity Natural Resources in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Infinity Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

Insider Activity

In other Infinity Natural Resources news, CFO Cary Baetz bought 22,000 shares of the stock in a transaction on Thursday, September 24th. The shares were purchased at an average price of $13.44 per share, with a total value of $295,680.00. Following the acquisition, the chief financial officer directly owned 22,000 shares of the company’s stock, valued at $295,680. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Scott Gieselman purchased 18,467 shares of the company’s stock in a transaction on Monday, September 21st. The stock was acquired at an average cost of $12.62 per share, for a total transaction of $233,053.54. Following the completion of the transaction, the director owned 113,467 shares in the company, valued at approximately $1,431,953.54. This trade represents a 19.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 50,783 shares of company stock valued at $663,625 in the last three months. 40.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Infinity Natural Resources

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in Infinity Natural Resources by 76.8% in the second quarter. Versant Capital Management Inc now owns 3,796 shares of the company’s stock valued at $48,000 after buying an additional 1,649 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Infinity Natural Resources during the second quarter worth approximately $139,000. Cowa LLC bought a new position in shares of Infinity Natural Resources in the third quarter valued at approximately $189,000. HighTower Advisors LLC bought a new position in shares of Infinity Natural Resources in the third quarter valued at approximately $281,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Infinity Natural Resources by 28.5% in the 1st quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock worth $853,000 after acquiring an additional 10,746 shares in the last quarter.

About Infinity Natural Resources

Infinity Natural Resources, Inc (NYSE: INR) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Appalachian Basin, one of the most significant hydrocarbon-producing regions in the United States.

Infinity Natural Resources primarily holds and develops acreage in West Virginia and Ohio. Its activities include drilling and completing horizontal wells, operating producing properties, and managing the infrastructure needed to gather and transport hydrocarbons to market.