Infinity Natural Resources (NYSE:INR) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Infinity Natural Resources (NYSE:INR) released its earnings results on Monday. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02, Zacks reports. The business had revenue of $171.02 million for the quarter. Infinity Natural Resources had a net margin of 11.05% and a return on equity of 42.90%.

Infinity Natural Resources Price Performance

Shares of INR stock traded up $0.93 on Monday, reaching $13.91. 331,225 shares of the company were exchanged, compared to its average volume of 314,797. The stock has a market capitalization of $883.70 million, a P/E ratio of 4.97 and a beta of -0.52. The firm has a 50-day simple moving average of $12.95. 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 has a one year low of $11.13 and a one year high of $19.58.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INR shares. Weiss Ratings reissued a “sell (d)” rating on shares of Infinity Natural Resources in a research report on Friday, July 31st. Citigroup reiterated a “buy” rating on shares of Infinity Natural Resources in a report on Tuesday, July 14th. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Texas Capital upgraded Infinity Natural Resources to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Wall Street Zen downgraded shares of Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Infinity Natural Resources presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at Infinity Natural Resources

In other news, Director Scott Gieselman bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was acquired at an average cost of $12.94 per share, with a total value of $129,400.00. Following the transaction, the director directly owned 95,000 shares of the company’s stock, valued at approximately $1,229,300. This represents a 11.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Quinn purchased 44,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $13.19 per share, for a total transaction of $580,360.00. Following the completion of the purchase, the director owned 54,503 shares in the company, valued at $718,894.57. This trade represents a 418.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 111,400 shares of company stock valued at $1,483,841. 40.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Infinity Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of INR. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 4,618 shares in the last quarter. Franklin Resources Inc. grew its position in Infinity Natural Resources by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company’s stock valued at $19,136,000 after purchasing an additional 137,247 shares during the period. Zions Bancorporation National Association UT bought a new stake in Infinity Natural Resources during the 4th quarter valued at $75,000. Nuveen LLC increased its stake in Infinity Natural Resources by 448.4% during the 4th quarter. Nuveen LLC now owns 182,098 shares of the company’s stock valued at $2,682,000 after purchasing an additional 148,895 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Infinity Natural Resources by 87.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 715,562 shares of the company’s stock worth $10,540,000 after buying an additional 333,972 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.