Bank of America Corp DE Purchases 165,690 Shares of Infinity Natural Resources Inc. $INR

Key Points

• Bank of America more than doubled its Infinity Natural Resources position in the first quarter, adding 165,690 shares to own 325,748 shares worth approximately $5.7 million, or 0.51% of the company.
• Infinity Natural Resources reported quarterly EPS of $0.88, beating estimates of $0.86, on revenue of $171.02 million. The stock opened at $14.65, with a market capitalization of roughly $929 million.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $24.00; insiders have also purchased 90,500 shares worth nearly $1.19 million over the past 90 days.

Bank of America Corp DE lifted its position in shares of Infinity Natural Resources Inc. (NYSE:INR - Free Report) by 103.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,748 shares of the company's stock after acquiring an additional 165,690 shares during the period. Bank of America Corp DE owned approximately 0.51% of Infinity Natural Resources worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INR. Zions Bancorporation National Association UT bought a new stake in shares of Infinity Natural Resources during the 4th quarter worth $75,000. Connors Investor Services Inc. acquired a new position in Infinity Natural Resources during the fourth quarter worth about $191,000. Lazard Asset Management LLC acquired a new position in Infinity Natural Resources during the fourth quarter worth about $219,000. Invesco Ltd. lifted its holdings in shares of Infinity Natural Resources by 18.6% in the fourth quarter. Invesco Ltd. now owns 16,853 shares of the company's stock worth $248,000 after acquiring an additional 2,643 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Infinity Natural Resources by 51.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,246 shares of the company's stock valued at $254,000 after purchasing an additional 5,891 shares during the last quarter.

Infinity Natural Resources Trading Up 1.2%

INR opened at $14.65 on Thursday. Infinity Natural Resources Inc. has a twelve month low of $11.13 and a twelve month high of $19.58. The company has a fifty day moving average of $13.23 and a 200-day moving average of $15.03. The stock has a market cap of $929.10 million, a PE ratio of 5.86 and a beta of -0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.35.

Infinity Natural Resources (NYSE:INR - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.88 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $171.02 million for the quarter. On average, sell-side analysts predict that Infinity Natural Resources Inc. will post 3.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Infinity Natural Resources from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. Stephens dropped their target price on Infinity Natural Resources from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Texas Capital upgraded Infinity Natural Resources to a "strong-buy" rating in a report on Thursday, June 25th. Zacks Research lowered shares of Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Wall Street Zen cut shares of Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 16th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, Infinity Natural Resources has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Insiders Place Their Bets

In other Infinity Natural Resources news, Director David P. Poole bought 4,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the director owned 27,646 shares in the company, valued at $373,221. This trade represents a 16.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Scott Gieselman purchased 10,000 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $129,400.00. Following the completion of the purchase, the director owned 95,000 shares of the company's stock, valued at approximately $1,229,300. This trade represents a 11.76% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 90,500 shares of company stock worth $1,188,935. Company insiders own 40.90% of the company's stock.

Infinity Natural Resources Profile

We are a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Additionally, we have proven our ability to grow our acreage position through organic leasing efforts and accretive acquisitions.

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