Infinity Natural Resources (NYSE:INR) Trading Down 6% – Time to Sell?

Infinity Natural Resources Inc. (NYSE:INR) dropped 6% on Thursday . The stock traded as low as $13.18 and last traded at $13.0350. Approximately 153,728 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 298,311 shares. The stock had previously closed at $13.86.

Wall Street Analysts Forecast Growth

INR has been the subject of several recent research reports. Wall Street Zen cut Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. KeyCorp upped their price objective on Infinity Natural Resources from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Citigroup decreased their target price on shares of Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Infinity Natural Resources Stock Down 9.4%

The company has a market cap of $798.06 million, a PE ratio of 4.52 and a beta of -0.54. The firm’s fifty day simple moving average is $15.45. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.98.

Infinity Natural Resources (NYSE:INR) last posted its earnings results on Tuesday, March 10th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.67. The company had revenue of $117.06 million during the quarter. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%. As a group, analysts anticipate that Infinity Natural Resources Inc. will post 3.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Sproule sold 275,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $4,793,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Gieselman bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $14.10 per share, for a total transaction of $282,000.00. Following the transaction, the director directly owned 70,900 shares of the company’s stock, valued at $999,690. The trade was a 39.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 64,900 shares of company stock worth $875,266 over the last three months. Insiders own 40.90% of the company’s stock.

Institutional Investors Weigh In On Infinity Natural Resources

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Infinity Natural Resources by 103.5% in the first 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. Royal Bank of Canada boosted its holdings in Infinity Natural Resources by 116.3% in the 1st quarter. Royal Bank of Canada now owns 59,946 shares of the company’s stock valued at $1,056,000 after purchasing an additional 32,227 shares during the period. Quantinno Capital Management LP grew its position in shares of Infinity Natural Resources by 28.5% during the 1st quarter. Quantinno Capital Management LP now owns 48,457 shares of the company’s stock worth $853,000 after purchasing an additional 10,746 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Infinity Natural Resources by 618.9% during the 1st quarter. Lazard Asset Management LLC now owns 106,659 shares of the company’s stock worth $1,878,000 after purchasing an additional 91,823 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 249,600 shares during the period.

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.