Infinity Natural Resources (NYSE:INR) Shares Gap Up After Analyst Upgrade

Shares of Infinity Natural Resources Inc. (NYSE:INR) gapped up before the market opened on Thursday after KeyCorp raised their price target on the stock from $22.00 to $24.00. The stock had previously closed at $17.61, but opened at $18.57. KeyCorp currently has an overweight rating on the stock. Infinity Natural Resources shares last traded at $17.6840, with a volume of 20,295 shares traded.

INR has been the subject of several other reports. Citigroup increased their price objective on Infinity Natural Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 assumed coverage on Infinity Natural Resources in a research note on Thursday, February 5th. They issued a “sell (d)” rating on the stock. Finally, Wall Street Zen raised Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.50.

Insiders Place Their Bets

In other Infinity Natural Resources news, insider David Sproule sold 275,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $4,793,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Infinity Natural Resources

Several institutional investors and hedge funds have recently modified their holdings of INR. Connors Investor Services Inc. acquired a new position in Infinity Natural Resources during the 4th quarter worth about $191,000. Bleakley Financial Group LLC acquired a new position in Infinity Natural Resources in the 4th quarter valued at about $610,000. Geode Capital Management LLC grew its position 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 acquiring an additional 4,618 shares in the last quarter. 1492 Capital Management LLC increased its stake in Infinity Natural Resources by 5.6% during the fourth quarter. 1492 Capital Management LLC now owns 259,091 shares of the company’s stock worth $3,816,000 after purchasing an additional 13,759 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Infinity Natural Resources by 11.8% during the fourth quarter. Franklin Resources Inc. now owns 1,299,091 shares of the company’s stock worth $19,136,000 after purchasing an additional 137,247 shares in the last quarter.

Infinity Natural Resources Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.10 billion, a PE ratio of 19.77 and a beta of -0.10.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 earnings per share 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 firm had revenue of $117.06 million during the quarter.

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.