Infinity Natural Resources (NYSE:INR) Shares Gap Up Following Better-Than-Expected Earnings

Infinity Natural Resources Inc. (NYSE:INR) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $17.60, but opened at $18.90. Infinity Natural Resources shares last traded at $18.3590, with a volume of 63,565 shares changing hands.

The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.67. Infinity Natural Resources had a return on equity of 17.52% and a net margin of 4.04%.The company had revenue of $117.06 million during the quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INR shares. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings started coverage on Infinity Natural Resources in a research report on Thursday, February 5th. They issued a “sell (d)” rating on the stock. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Institutional Investors Weigh In On Infinity Natural Resources

A number of institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT acquired a new position in Infinity Natural Resources in the fourth quarter worth about $75,000. Connors Investor Services Inc. acquired a new stake in Infinity Natural Resources during the fourth quarter valued at approximately $191,000. Lazard Asset Management LLC bought a new position in Infinity Natural Resources during the 4th quarter worth approximately $219,000. Invesco Ltd. grew 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 worth $248,000 after acquiring an additional 2,643 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of 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 acquiring an additional 5,891 shares in the last quarter.

Infinity Natural Resources Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 20.91 and a beta of 0.23.

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.