Infinity Natural Resources (NYSE:INR) Shares Gap Up Following Insider Buying Activity

Infinity Natural Resources Inc. (NYSE:INR) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $13.52, but opened at $14.31. Infinity Natural Resources shares last traded at $14.0450, with a volume of 49,397 shares changing hands.

Specifically, Director Scott Gieselman acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $14.10 per share, for a total transaction of $282,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

INR has been the subject of a number of research analyst reports. Zacks Research downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp boosted 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. Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a report on Monday, May 4th. Wall Street Zen cut Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Citigroup lifted their target price on Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Infinity Natural Resources currently has an average rating of “Hold” and a consensus price target of $24.50.

Infinity Natural Resources Stock Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $879.19 million, a price-to-earnings ratio of 4.94 and a beta of -0.33. The firm has a 50 day simple moving average of $16.33.

Infinity Natural Resources (NYSE:INR) last announced its earnings results on Tuesday, March 10th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a return on equity of 42.90% and a net margin of 11.05%.The business had revenue of $117.06 million during the quarter. Equities research analysts forecast that Infinity Natural Resources Inc. will post 3.49 earnings per share for the current fiscal year.

Institutional Trading of Infinity Natural Resources

A number of hedge funds have recently bought and sold shares of INR. Zions Bancorporation National Association UT acquired a new position in shares of Infinity Natural Resources in the fourth quarter worth about $75,000. Connors Investor Services Inc. acquired a new stake in shares of Infinity Natural Resources during the fourth quarter valued at approximately $191,000. Lazard Asset Management LLC acquired a new stake in shares of Infinity Natural Resources during the fourth quarter valued at approximately $219,000. Invesco Ltd. lifted its position in shares of 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 acquiring an additional 2,643 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Infinity Natural Resources by 51.9% in the 4th quarter. Wells Fargo & Company MN now owns 17,246 shares of the company’s stock worth $254,000 after purchasing an additional 5,891 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.