Infinity Natural Resources (INR) is positioned to outperform peers over the next year as a "niche player" that can switch focus between oil and natural gas, RBC Capital Markets said in a note Wednesday.
The company is targeting four volatile oil completions at its Utica operations in Ohio in Q2 to take advantage of high oil prices, toggling from its focus on natural gas last year when gas prices were increasing, the investment firm said.
The company's activities are expected to switch back to natural gas completions in H2, RBC said.
Mergers and acquisitions also remain a core competency for the company, which added about 5,500 net acres to its portfolio in Q1, according to the note.
RBC Capital Markets has an outperform rating and $27 price target on Infinity Natural Resources.
Shares of Infinity Natural Resources were up more than 1% in Thursday trading.
Price: $14.96, Change: $+0.17, Percent Change: +1.12%