Infinity Natural Resources (NYSE:INR) Shares Up 4% – Here’s Why

Infinity Natural Resources Inc. (NYSE:INR)’s share price shot up 4% on Friday . The company traded as high as $19.37 and last traded at $18.9790. 53,791 shares changed hands during trading, a decline of 76% from the average session volume of 220,248 shares. The stock had previously closed at $18.25.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INR. Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings initiated coverage on Infinity Natural Resources in a research note on Thursday, February 5th. They set a “sell (d)” rating for the company. Wall Street Zen raised Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 14th. Finally, Citigroup lifted their price target on Infinity Natural Resources from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.00.

Infinity Natural Resources Stock Up 4.7%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 21.71 and a beta of 0.23.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.67. Infinity Natural Resources had a net margin of 4.04% and a return on equity of 10.40%. The business had revenue of $117.06 million during the quarter.

Insider Buying and Selling

In other Infinity Natural Resources news, insider David Sproule sold 275,000 shares of the company’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 value of $4,793,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Infinity Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in Infinity Natural Resources by 10.5% in the fourth quarter. Barclays PLC now owns 24,458 shares of the company’s stock worth $360,000 after purchasing an additional 2,334 shares during the period. Invesco Ltd. increased its holdings in Infinity Natural Resources by 18.6% in the 4th quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock valued at $248,000 after buying an additional 2,643 shares during the period. Geode Capital Management LLC increased its holdings in Infinity Natural Resources by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 346,738 shares of the company’s stock valued at $5,109,000 after buying an additional 4,618 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Infinity Natural Resources in the 4th quarter valued at $75,000. Finally, Jane Street Group LLC lifted its holdings in shares of Infinity Natural Resources by 12.3% during the 4th quarter. Jane Street Group LLC now owns 49,996 shares of the company’s stock worth $736,000 after acquiring an additional 5,490 shares during the period.

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.