Infinity Natural Resources (NYSE:INR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Infinity Natural Resources reported quarterly EPS of $0.88, beating analyst expectations by $0.02, while revenue totaled $171.02 million. The company posted a 42.90% return on equity and an 11.05% net margin.
• Shares rose to $13.91 in Monday trading, though they remain below the 12-month high of $19.58. Analysts maintain a consensus “Moderate Buy” rating with a $24.00 target price.
• Insiders bought 111,400 shares worth approximately $1.48 million over the past three months, and company insiders own 40.90% of the stock.

Infinity Natural Resources (NYSE:INR - Get Free Report) released its earnings results on Monday. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.02, Zacks reports. The company had revenue of $171.02 million for the quarter. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%.

Infinity Natural Resources Stock Performance

NYSE INR traded up $0.93 during trading on Monday, hitting $13.91. 331,225 shares of the company's stock traded hands, compared to its average volume of 314,795. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $883.70 million, a PE ratio of 4.97 and a beta of -0.52. Infinity Natural Resources has a 12-month low of $11.13 and a 12-month high of $19.58. The business's 50 day simple moving average is $12.95.

Analyst Ratings Changes

INR has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 16th. Citigroup reiterated a "buy" rating on shares of Infinity Natural Resources in a research note on Tuesday, July 14th. Stephens reduced their target price on shares of 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. Weiss Ratings restated a "sell (d)" rating on shares of Infinity Natural Resources in a research note on Friday, July 31st. Finally, Zacks Research cut shares of Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Insider Buying and Selling at Infinity Natural Resources

In other Infinity Natural Resources news, Director David P. Poole purchased 7,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were bought at an average price of $13.99 per share, with a total value of $104,925.00. Following the completion of the transaction, the director directly owned 23,646 shares in the company, valued at approximately $330,807.54. This trade represents a 46.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven D. Gray purchased 25,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $12.81 per share, for a total transaction of $320,250.00. Following the completion of the purchase, the director directly owned 40,000 shares in the company, valued at $512,400. This represents a 166.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 111,400 shares of company stock worth $1,483,841 over the last three months. Company insiders own 40.90% of the company's stock.

Institutional Investors Weigh In On Infinity Natural Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Infinity Natural Resources by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 346,738 shares of the company's stock worth $5,109,000 after acquiring an additional 4,618 shares during the period. Franklin Resources Inc. raised its stake in shares of Infinity Natural Resources by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company's stock valued at $19,136,000 after purchasing an additional 137,247 shares during the period. Zions Bancorporation National Association UT bought a new position in Infinity Natural Resources in the 4th quarter worth about $75,000. Nuveen LLC grew its holdings in Infinity Natural Resources by 448.4% during the 4th quarter. Nuveen LLC now owns 182,098 shares of the company's stock valued at $2,682,000 after buying an additional 148,895 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Infinity Natural Resources by 87.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company's stock valued at $10,540,000 after buying an additional 333,972 shares in the last quarter.

About Infinity Natural Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source