Infinity Natural Resources (NYSE:INR) Raised to “Strong-Buy” at Texas Capital

Infinity Natural Resources (NYSE:INR) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on INR. Weiss Ratings reaffirmed 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 report on Saturday, May 16th. KeyCorp boosted their price objective on Infinity Natural Resources from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Citigroup cut their target price on Infinity Natural Resources from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Infinity Natural Resources Price Performance

Shares of NYSE INR opened at $12.95 on Thursday. The stock has a market capitalization of $822.90 million, a PE ratio of 4.63 and a beta of -0.54. Infinity Natural Resources has a 1 year low of $11.13 and a 1 year high of $19.58. The stock has a fifty day moving average price of $14.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98.

Insider Activity at Infinity Natural Resources

In related news, Director David P. Poole purchased 7,500 shares of Infinity Natural Resources stock in a transaction on Wednesday, June 10th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $104,925.00. Following the acquisition, the director owned 23,646 shares in the company, valued at approximately $330,807.54. The trade was a 46.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven D. Gray purchased 25,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was bought at an average price of $12.81 per share, for a total transaction of $320,250.00. Following the purchase, the director owned 40,000 shares in the company, valued at approximately $512,400. This represents a 166.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 111,400 shares of company stock worth $1,483,841 in the last three months. Insiders own 40.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Infinity Natural Resources by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company’s stock worth $1,136,000 after buying an additional 1,429 shares in the last quarter. Barclays PLC grew its holdings in Infinity Natural Resources by 10.5% during the 4th quarter. Barclays PLC now owns 24,458 shares of the company’s stock valued at $360,000 after buying an additional 2,334 shares in the last quarter. Invesco Ltd. grew its holdings in Infinity Natural Resources by 18.6% during 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 in the last quarter. Geode Capital Management LLC increased its stake 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 worth $5,109,000 after acquiring an additional 4,618 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Infinity Natural Resources in the 4th quarter worth approximately $75,000.

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.