Infinity Natural Resources (NYSE:INR) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Infinity Natural Resources to “strong sell” from “hold,” contrasting with a broader analyst consensus of “Moderate Buy” and a $24 average price target.
• Infinity Natural Resources shares opened at $12.70, near the lower end of their 52-week range of $11.13 to $19.58. The company recently exceeded quarterly EPS estimates, reporting $0.88 versus the $0.86 consensus.
• Insiders purchased 50,783 shares worth approximately $663,625 during the past quarter, while several institutional investors—including Renaissance Technologies and Lazard Asset Management—significantly increased their positions.

Infinity Natural Resources (NYSE:INR - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday, Zacks reports.

INR has been the subject of a number of other research reports. Weiss Ratings upgraded Infinity Natural Resources from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 13th. Raymond James Financial lowered their price target on Infinity Natural Resources from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Wednesday, July 8th. Texas Capital upgraded shares of Infinity Natural Resources to a "strong-buy" rating in a research note on Thursday, June 25th. Citigroup reaffirmed a "buy" rating on shares of Infinity Natural Resources in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $27.00 target price on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Infinity Natural Resources currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Infinity Natural Resources Price Performance

Shares of NYSE:INR opened at $12.70 on Monday. The firm's 50 day moving average is $13.95 and its two-hundred day moving average is $14.62. The firm has a market capitalization of $805.69 million, a P/E ratio of 5.08 and a beta of -0.42. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. Infinity Natural Resources has a 52 week low of $11.13 and a 52 week high of $19.58.

Infinity Natural Resources (NYSE:INR - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. Infinity Natural Resources had a return on equity of 33.39% and a net margin of 11.64%.The business had revenue of $171.02 million during the quarter. Analysts anticipate that Infinity Natural Resources will post 3.43 earnings per share for the current year.

Insider Buying and Selling at Infinity Natural Resources

In other news, CFO Cary Baetz acquired 22,000 shares of the company's stock in a transaction dated Thursday, September 24th. The shares were bought at an average price of $13.44 per share, with a total value of $295,680.00. Following the purchase, the chief financial officer owned 22,000 shares of the company's stock, valued at approximately $295,680. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Gieselman acquired 18,467 shares of the business's stock in a transaction dated Monday, September 21st. The stock was purchased at an average price of $12.62 per share, with a total value of $233,053.54. Following the acquisition, the director owned 113,467 shares of the company's stock, valued at approximately $1,431,953.54. This trade represents a 19.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 50,783 shares of company stock worth $663,625. 40.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Infinity Natural Resources

Several large investors have recently made changes to their positions in INR. Renaissance Technologies LLC lifted its stake in Infinity Natural Resources by 285.3% during the first 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 position in Infinity Natural Resources by 153.6% in the first 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 grew its position in Infinity Natural Resources by 103.5% in 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 last quarter. Lazard Asset Management LLC increased its holdings in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Infinity Natural Resources in the second quarter valued at $1,116,000.

About Infinity Natural Resources

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.

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