Infinity Natural Resources (NYSE:INR) Announces Quarterly Earnings Results

Infinity Natural Resources (NYSE:INR) issued its quarterly earnings results on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.82 by ($1.19), FiscalAI reports. Infinity Natural Resources had a net margin of 7.86% and a return on equity of 46.53%. The business had revenue of $197.58 million during the quarter.

Infinity Natural Resources Trading Up 2.6%

Shares of INR traded up $0.34 during trading hours on Wednesday, hitting $13.40. The stock had a trading volume of 8,122 shares, compared to its average volume of 299,948. 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 firm has a market cap of $849.83 million, a P/E ratio of 9.05 and a beta of -0.43. The company’s fifty day simple moving average is $13.77 and its 200 day simple moving average is $14.71. Infinity Natural Resources has a 12-month low of $11.90 and a 12-month high of $19.58.

Insider Transactions at Infinity Natural Resources

In other news, Director Scott Gieselman purchased 10,000 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was bought at an average cost of $13.06 per share, for a total transaction of $130,600.00. Following the completion of the purchase, the director directly owned 123,467 shares of the company’s stock, valued at $1,612,479.02. The trade was a 8.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Cary D. Baetz acquired 22,000 shares of Infinity Natural Resources stock in a transaction dated Thursday, September 24th. The stock was purchased at an average cost of $13.44 per share, for a total transaction of $295,680.00. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 50,783 shares of company stock valued at $663,625. 40.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INR. Renaissance Technologies LLC grew its stake in Infinity Natural Resources by 285.3% during the first quarter. Renaissance Technologies LLC now owns 337,100 shares of the company’s stock worth $5,936,000 after buying an additional 249,600 shares during the period. Bank of America Corp DE lifted its holdings in shares of Infinity Natural Resources by 103.5% during 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 in the last quarter. Sei Investments Co. lifted its holdings in shares of Infinity Natural Resources by 153.6% during the 1st quarter. Sei Investments Co. now owns 275,422 shares of the company’s stock valued at $4,850,000 after acquiring an additional 166,810 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock valued at $4,845,000 after acquiring an additional 8,673 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in Infinity Natural Resources by 74.0% during the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock worth $2,581,000 after purchasing an additional 62,343 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Scotiabank began coverage on Infinity Natural Resources in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $17.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a research note on Wednesday, August 19th. Zacks Research downgraded Infinity Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 28th. Royal Bank Of Canada decreased their price target on Infinity Natural Resources from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Finally, Weiss Ratings upgraded Infinity Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Infinity Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of $21.83.

Infinity Natural Resources Company Profile

Infinity Natural Resources is an independent energy company focused on acquiring, developing and producing oil and natural gas. Its operations are concentrated in the Appalachian Basin, where it produces natural gas, natural gas liquids and oil from formations including the Utica and Marcellus shale. Based in Morgantown, West Virginia, the company’s assets are located in the Appalachian region, including Ohio and Pennsylvania. Infinity was founded in 2017, and Zack Arnold serves as its president and chief executive officer.