Infinity Natural Resources (NYSE:INR) CFO Cary Baetz Acquires 22,000 Shares of Stock

Key Points

• Infinity Natural Resources CFO Cary Baetz purchased 22,000 shares at an average price of $13.44, investing approximately $295,680. The transaction gives Baetz direct ownership of 22,000 shares and was disclosed in an SEC filing.
• INR shares recently traded at $12.52, giving the company a market capitalization of roughly $794 million. The stock has ranged from $11.13 to $19.58 over the past year.
• The company exceeded quarterly earnings expectations, reporting $0.88 EPS versus the $0.86 consensus estimate. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $24.00.

Infinity Natural Resources Inc. (NYSE:INR - Get Free Report) CFO Cary Baetz purchased 22,000 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $13.44 per share, with a total value of $295,680.00. Following the acquisition, the chief financial officer directly owned 22,000 shares in the company, valued at approximately $295,680. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Infinity Natural Resources Price Performance

INR stock traded down $0.54 during trading on Monday, reaching $12.52. 244,541 shares of the company were exchanged, compared to its average volume of 310,463. The company has a market cap of $794.21 million, a P/E ratio of 5.01 and a beta of -0.42. Infinity Natural Resources Inc. has a 52-week low of $11.13 and a 52-week high of $19.58. The stock's 50 day moving average price is $13.98 and its 200 day moving average price is $14.69. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.87.

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

Hedge Funds Weigh In On Infinity Natural Resources

A number of institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in shares of Infinity Natural Resources in the second quarter valued at $139,000. Public Employees Retirement System of Ohio purchased a new stake in Infinity Natural Resources during the 2nd quarter worth about $1,116,000. Bank of New York Mellon Corp acquired a new position in Infinity Natural Resources in the 2nd quarter valued at about $892,000. Versant Capital Management Inc lifted its holdings in Infinity Natural Resources by 76.8% in the 2nd quarter. Versant Capital Management Inc now owns 3,796 shares of the company's stock valued at $48,000 after purchasing an additional 1,649 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in 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 purchasing an additional 165,690 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on INR shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $27.00 target price on shares of Infinity Natural Resources in a research report on Tuesday, July 7th. Citigroup reaffirmed a "buy" rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Raymond James Financial decreased their price objective on shares of Infinity Natural Resources from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, July 8th. Texas Capital upgraded shares of Infinity Natural Resources to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings raised shares of Infinity Natural Resources from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. 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 issued a Sell rating to the company. According to MarketBeat.com, Infinity Natural Resources presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Infinity Natural Resources Company Profile

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 primarily in Ohio and West Virginia, where it targets formations including the Marcellus and Utica shales.

Its production portfolio includes natural gas, natural gas liquids and crude oil. Infinity Natural Resources is involved in the drilling, completion and operation of horizontal wells, as well as related gathering and infrastructure activities needed to transport its production to market.

The company was established in 2017 and has built its business around operated acreage and development opportunities in the Appalachian region.

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