Bank of New York Mellon Corp Makes New Investment in Infinity Natural Resources Inc. $INR

Key Points

• Bank of New York Mellon acquired 70,254 shares of Infinity Natural Resources during the second quarter, valued at approximately $892,000 and representing about 0.11% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.00, despite some rating downgrades and reduced targets.
• Infinity Natural Resources reported quarterly earnings of $0.88 per share, beating estimates of $0.86, on revenue of $171.02 million; its stock opened at $15.34 and recently traded up 0.8%.

Bank of New York Mellon Corp acquired a new stake in Infinity Natural Resources Inc. (NYSE:INR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 70,254 shares of the company's stock, valued at approximately $892,000. Bank of New York Mellon Corp owned approximately 0.11% of Infinity Natural Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Infinity Natural Resources by 76.8% during the second quarter. Versant Capital Management Inc now owns 3,796 shares of the company's stock worth $48,000 after buying an additional 1,649 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Infinity Natural Resources during the fourth quarter worth about $75,000. Connors Investor Services Inc. bought a new stake in Infinity Natural Resources in the 4th quarter worth about $191,000. Lazard Asset Management LLC bought a new stake in Infinity Natural Resources in the 4th quarter worth about $219,000. Finally, Invesco Ltd. increased its stake in Infinity Natural Resources by 18.6% in the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company's stock valued at $248,000 after buying an additional 2,643 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on the stock. 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. Weiss Ratings raised Infinity Natural Resources from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 13th. Citigroup reaffirmed a "buy" rating on shares of Infinity Natural Resources in a research report on Wednesday, August 19th. Royal Bank Of Canada reissued an "outperform" rating and issued a $27.00 price objective on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Finally, Raymond James Financial reduced their price objective on 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Infinity Natural Resources Trading Up 0.8%

NYSE:INR opened at $15.34 on Friday. Infinity Natural Resources Inc. has a 12 month low of $11.13 and a 12 month high of $19.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The firm's 50 day moving average is $13.83 and its 200 day moving average is $14.96. The stock has a market capitalization of $972.86 million, a PE ratio of 6.14 and a beta of -0.42.

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

Insider Buying and Selling

In other Infinity Natural Resources news, Director Scott Gieselman bought 10,000 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was purchased at an average price of $12.94 per share, for a total transaction of $129,400.00. Following the completion of the transaction, the director directly owned 95,000 shares of the company's stock, valued at $1,229,300. This trade represents a 11.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 40.90% of the stock is currently owned by company insiders.

Infinity Natural Resources Company 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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