Insider Buying: Infinity Natural Resources (NYSE:INR) Director Acquires $54,000.00 in Stock

Infinity Natural Resources Inc. (NYSE:INR) Director David Poole bought 4,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $13.50 per share, with a total value of $54,000.00. Following the transaction, the director owned 27,646 shares of the company’s stock, valued at $373,221. This trade represents a 16.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Infinity Natural Resources Stock Up 4.8%

Shares of Infinity Natural Resources stock opened at $13.11 on Friday. The firm has a market capitalization of $833.13 million, a PE ratio of 4.68 and a beta of -0.54. The stock has a fifty day simple moving average of $15.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.98. Infinity Natural Resources Inc. has a 12 month low of $11.13 and a 12 month high of $19.90.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Infinity Natural Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new stake in shares of Infinity Natural Resources in the fourth quarter valued at about $75,000. Connors Investor Services Inc. acquired a new stake in shares of Infinity Natural Resources in the fourth quarter valued at about $191,000. Lazard Asset Management LLC acquired a new stake in shares of Infinity Natural Resources in the fourth quarter valued at about $219,000. Invesco Ltd. grew its position in shares of Infinity Natural Resources by 18.6% in the fourth quarter. Invesco Ltd. now owns 16,853 shares of the company’s stock valued at $248,000 after purchasing an additional 2,643 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Infinity Natural Resources by 51.9% in the fourth quarter. Wells Fargo & Company MN now owns 17,246 shares of the company’s stock valued at $254,000 after purchasing an additional 5,891 shares during the last quarter.

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.