Insider Buying: Infinity Natural Resources (NYSE:INR) Director Purchases 10,000 Shares of Stock

Key Points

• Director Scott Gieselman bought 10,000 shares of Infinity Natural Resources at an average price of $13.06, investing $130,600 and increasing his direct holdings by 8.81%. He also purchased 18,467 shares the previous day.
• INR shares recently traded near $13.05, with a market capitalization of about $827.9 million and a P/E ratio of 5.22. The company’s latest quarterly EPS of $0.88 exceeded analysts’ $0.86 estimate on revenue of $171.02 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.00, although ratings range from Strong Buy to Sell. Several institutional investors, including Bank of America, also increased their positions.

Infinity Natural Resources Inc. (NYSE:INR - Get Free Report) Director Scott Gieselman bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average price of $13.06 per share, with a total value of $130,600.00. Following the acquisition, the director directly owned 123,467 shares in the company, valued at $1,612,479.02. The trade was a 8.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Scott Gieselman also recently made the following trade(s):

• On Monday, September 21st, Scott Gieselman purchased 18,467 shares of Infinity Natural Resources stock. The shares were purchased at an average price of $12.62 per share, for a total transaction of $233,053.54.

Infinity Natural Resources Trading Up 0.2%

Shares of INR traded up $0.02 during midday trading on Wednesday, hitting $13.05. 210,475 shares of the stock were exchanged, compared to its average volume of 309,451. Infinity Natural Resources Inc. has a 52-week low of $11.13 and a 52-week 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 fifty day simple moving average of $13.96 and a 200 day simple moving average of $14.79. The firm has a market cap of $827.88 million, a P/E ratio of 5.22 and a beta of -0.42.

Infinity Natural Resources (NYSE:INR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.88 earnings per share (EPS) for the quarter, beating 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 for the quarter. On average, research analysts anticipate that Infinity Natural Resources Inc. will post 3.43 EPS for the current fiscal year.

Institutional Trading of Infinity Natural Resources

A number of large investors have recently made changes to their positions in INR. Engineers Gate Manager LP purchased a new position in Infinity Natural Resources during the 2nd quarter worth approximately $139,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Infinity Natural Resources in the second quarter valued at approximately $1,116,000. Bank of New York Mellon Corp purchased a new position in shares of Infinity Natural Resources during the second quarter worth approximately $892,000. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 1,649 shares during the last quarter. Finally, Bank of America Corp DE increased 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 during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INR shares. Zacks Research lowered shares of Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Texas Capital upgraded Infinity Natural Resources to a "strong-buy" rating in a research note on Thursday, June 25th. Raymond James Financial dropped their price objective on Infinity Natural Resources from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $27.00 price target on shares of Infinity Natural Resources in a report on Tuesday, July 7th. Finally, Citigroup reiterated a "buy" rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Infinity Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

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 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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