Infinity Natural Resources (NYSE:INR) Price Target Raised to $24.00

Infinity Natural Resources (NYSE:INR) had its price objective increased by KeyCorp from $22.00 to $24.00 in a research report sent to investors on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on the stock. Weiss Ratings began coverage on shares of Infinity Natural Resources in a research note on Thursday, February 5th. They issued a “sell (d)” rating for the company. Wall Street Zen raised shares of Infinity Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Citigroup upped their price objective on Infinity Natural Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

Infinity Natural Resources Trading Up 0.1%

NYSE INR opened at $17.40 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $1.10 billion, a PE ratio of 19.77 and a beta of -0.10. Infinity Natural Resources has a 52 week low of $11.13 and a 52 week high of $19.90.

Infinity Natural Resources (NYSE:INR) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $1.32 earnings per share (EPS) 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.

Insiders Place Their Bets

In other Infinity Natural Resources news, insider David Sproule sold 275,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total transaction of $4,793,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Infinity Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in INR. Zions Bancorporation National Association UT acquired a new position in shares of Infinity Natural Resources in the 4th quarter worth approximately $75,000. Connors Investor Services Inc. acquired a new stake in Infinity Natural Resources in the 4th quarter valued at approximately $191,000. Lazard Asset Management LLC acquired a new stake in Infinity Natural Resources in the 4th quarter valued at approximately $219,000. Invesco Ltd. raised its position in 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 period. Finally, Wells Fargo & Company MN raised its position in 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 period.

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.