World Fuel Services Corp (NYSE:INT) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 947,527 shares, a decline of 32.0% from the November 15th total of 1,393,610 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 450,923 shares, the days-to-cover ratio is presently 2.1 days.
A number of hedge funds have recently made changes to their positions in INT. Janus Henderson Group PLC acquired a new stake in World Fuel Services in the second quarter worth about $101,136,000. AJO LP acquired a new stake in World Fuel Services in the second quarter worth about $54,483,000. Dimensional Fund Advisors LP increased its position in World Fuel Services by 49.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,589,087 shares of the oil and gas company’s stock worth $99,550,000 after purchasing an additional 859,392 shares during the period. Artisan Partners Limited Partnership grew its position in shares of World Fuel Services by 13.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,052,815 shares of the oil and gas company’s stock worth $117,381,000 after buying an additional 355,049 shares during the period. Finally, State Street Corp grew its position in shares of World Fuel Services by 9.4% during the 2nd quarter. State Street Corp now owns 2,748,764 shares of the oil and gas company’s stock worth $105,695,000 after buying an additional 236,408 shares during the period. Hedge funds and other institutional investors own 88.96% of the company’s stock.
INT has been the subject of a number of research analyst reports. BidaskClub raised World Fuel Services from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Bank of America lowered World Fuel Services from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $41.00 to $36.00 in a research report on Tuesday, September 26th.
World Fuel Services (NYSE:INT) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.19 billion. World Fuel Services had a return on equity of 5.54% and a net margin of 0.08%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. analysts anticipate that World Fuel Services will post 2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.86%. World Fuel Services’s payout ratio is 68.57%.
World Fuel Services announced that its Board of Directors has approved a share buyback program on Wednesday, October 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
About World Fuel Services
World Fuel Services Corporation is engaged in providing aviation, marine and land energy, logistics and technology solutions to customers and suppliers around the world. The Company operates through three segments: Aviation, Marine and Land. In its Aviation segment, the Company offers fuel and related products and services.
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