104,585 Shares in Infinity Natural Resources Inc. $INR Acquired by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC acquired 104,585 shares of Infinity Natural Resources, valued at approximately $1.32 million and representing about 0.16% of the company.
• Institutional ownership increased as several funds expanded their positions, including Renaissance Technologies, Sei Investments and Bank of America. Company insiders also bought 50,783 shares worth $663,625 over the past three months.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $21.83, despite recent target-price cuts and a stock price of $13.28. Infinity reported quarterly EPS of $0.88, slightly above the $0.86 consensus estimate.

Sanders Morris Harris LLC acquired a new stake in shares of Infinity Natural Resources Inc. (NYSE:INR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 104,585 shares of the company's stock, valued at approximately $1,318,000. Sanders Morris Harris LLC owned approximately 0.16% of Infinity Natural Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in Infinity Natural Resources during the second quarter valued at $892,000. Sei Investments Co. increased its stake in Infinity Natural Resources by 153.6% in the 1st 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 last quarter. Renaissance Technologies LLC increased its stake in Infinity Natural Resources by 285.3% in the 1st quarter. Renaissance Technologies LLC now owns 337,100 shares of the company's stock worth $5,936,000 after acquiring an additional 249,600 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Infinity Natural Resources by 103.5% in the 1st 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. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Infinity Natural Resources in the 2nd quarter valued at about $1,116,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup reiterated a "buy" rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Royal Bank Of Canada decreased their price objective on shares of Infinity Natural Resources from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday. 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 upgraded shares of Infinity Natural Resources from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 13th. Finally, Raymond James Financial dropped 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 report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Infinity Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.83.

Infinity Natural Resources Price Performance

INR traded down $0.61 during trading on Wednesday, reaching $13.28. The stock had a trading volume of 344,945 shares, compared to its average volume of 306,644. The business has a 50-day moving average of $14.01 and a 200-day moving average of $14.30. Infinity Natural Resources Inc. has a one year low of $11.13 and a one year 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 stock has a market cap of $842.15 million, a PE ratio of 5.31 and a beta of -0.30.

Infinity Natural Resources (NYSE:INR - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $171.02 million during the quarter. As a group, equities research analysts anticipate that Infinity Natural Resources Inc. will post 3.43 EPS for the current fiscal year.

Insider Transactions at Infinity Natural Resources

In other news, CFO Cary D. Baetz bought 22,000 shares of the business's stock in a transaction on Thursday, September 24th. The stock was acquired 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 directly owned 22,000 shares in the company, valued at $295,680. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott Gieselman bought 18,467 shares of the business's stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $12.62 per share, with a total value of $233,053.54. Following the purchase, the director owned 113,467 shares of the company's stock, valued at $1,431,953.54. This represents a 19.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 50,783 shares of company stock worth $663,625. 40.90% of the stock is currently owned by insiders.

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, with activities concentrated primarily in Ohio and West Virginia.

Infinity Natural Resources produces natural gas, natural gas liquids and crude oil from formations including the Marcellus and Utica shale plays. Its operations include leasing acreage, drilling and completing wells, and managing related gathering and infrastructure arrangements used to transport production to market.

The company was established in 2017 and has grown through the acquisition and development of Appalachian Basin assets.

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