Wells Fargo & Company MN reduced its holdings in shares of World Fuel Services Corp (NYSE:INT) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,279 shares of the oil and gas company’s stock after selling 18,586 shares during the period. Wells Fargo & Company MN owned approximately 0.41% of World Fuel Services worth $6,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in World Fuel Services by 8.4% in the first quarter. State Street Corp now owns 2,811,657 shares of the oil and gas company’s stock worth $71,078,000 after acquiring an additional 217,672 shares in the last quarter. AQR Capital Management LLC raised its position in shares of World Fuel Services by 4.6% in the 4th quarter. AQR Capital Management LLC now owns 2,290,300 shares of the oil and gas company’s stock valued at $99,445,000 after purchasing an additional 100,823 shares during the last quarter. Norges Bank acquired a new stake in World Fuel Services in the 4th quarter worth approximately $43,709,000. Goldman Sachs Group Inc. grew its position in World Fuel Services by 44.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 985,158 shares of the oil and gas company’s stock worth $42,775,000 after purchasing an additional 304,944 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in World Fuel Services by 7.4% during the 1st quarter. Geode Capital Management LLC now owns 943,269 shares of the oil and gas company’s stock valued at $23,751,000 after purchasing an additional 65,074 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of World Fuel Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd. ValuEngine raised World Fuel Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 2nd.
INT opened at $25.34 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 0.62. World Fuel Services Corp has a 12-month low of $20.04 and a 12-month high of $44.37. The firm has a 50 day moving average of $25.23 and a two-hundred day moving average of $31.06. The firm has a market capitalization of $1.50 billion, a PE ratio of 9.15, a P/E/G ratio of 3.60 and a beta of 1.10.
World Fuel Services (NYSE:INT) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.27. The firm had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.71 billion. World Fuel Services had a net margin of 0.51% and a return on equity of 10.27%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, analysts predict that World Fuel Services Corp will post 1.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be issued a $0.10 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.58%. World Fuel Services’s dividend payout ratio (DPR) is presently 14.34%.
World Fuel Services declared that its board has initiated a stock repurchase plan on Monday, March 16th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
World Fuel Services Company Profile
World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.
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