Infinity Natural Resources Inc. (NYSE:INR) Stock Has Consensus Price Target of $21.83 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Infinity Natural Resources, with five buy, two strong-buy, and two sell ratings. The average 12-month price target is $21.83, compared with the stock’s opening price of $14.52.
• Infinity Natural Resources reported quarterly EPS of $0.88, exceeding the $0.86 consensus estimate, on revenue of $171.02 million. Analysts expect full-year EPS of approximately $3.23.
• Insiders have shown confidence by purchasing 50,783 shares worth $663,625 over the past 90 days, while corporate insiders own 40.90% of the company; several institutional investors also increased their positions.

Infinity Natural Resources Inc. (NYSE:INR - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.83.

A number of brokerages have recently issued reports on INR. Raymond James Financial lowered their target price on shares of Infinity Natural Resources from $30.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Wednesday, July 8th. Scotiabank started coverage on shares of Infinity Natural Resources in a research note on Wednesday, October 14th. They issued a "sector outperform" rating and a $17.00 price target on the stock. Stephens reduced their price target on shares of Infinity Natural Resources from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Zacks Research lowered shares of Infinity Natural Resources from a "hold" rating to a "strong sell" rating in a report on Monday, September 28th. Finally, Royal Bank Of Canada lowered their price objective on shares of Infinity Natural Resources from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Wednesday, October 14th.

Infinity Natural Resources Price Performance

Shares of INR stock opened at $14.52 on Friday. The stock has a 50 day moving average price of $14.03 and a 200 day moving average price of $14.77. Infinity Natural Resources has a 52-week low of $11.13 and a 52-week high of $19.58. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $920.73 million, a P/E ratio of 5.81 and a beta of -0.30.

Infinity Natural Resources (NYSE:INR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating the consensus estimate 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 company had revenue of $171.02 million for the quarter. As a group, sell-side analysts predict that Infinity Natural Resources will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Cary Baetz purchased 22,000 shares of the firm's stock in a transaction dated Thursday, September 24th. The stock was purchased at an average price of $13.44 per share, with a total value of $295,680.00. Following the completion of the purchase, the chief financial officer owned 22,000 shares of the company's stock, valued at approximately $295,680. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Gieselman purchased 18,467 shares of the stock in a transaction that occurred on 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 directly owned 113,467 shares of the company's stock, valued at $1,431,953.54. This trade represents a 19.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 50,783 shares of company stock worth $663,625. Corporate insiders own 40.90% of the company's stock.

Institutional Investors Weigh In On Infinity Natural Resources

Several hedge funds have recently made changes to their positions in INR. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 249,600 shares during the period. Bank of America Corp DE raised its holdings in shares of 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 valued at $5,736,000 after acquiring an additional 165,690 shares in the last quarter. Sei Investments Co. lifted its stake 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 acquiring an additional 166,810 shares during the period. CI Investments Inc. lifted its stake in Infinity Natural Resources by 3.3% in the first quarter. CI Investments Inc. now owns 275,132 shares of the company's stock worth $4,845,000 after acquiring an additional 8,673 shares during the period. Finally, Walleye Capital LLC grew its holdings in Infinity Natural Resources by 74.0% during the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company's stock worth $2,581,000 after acquiring an additional 62,343 shares in the last quarter.

Infinity Natural Resources Company Profile

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.

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