OxFORD Asset Management LLP reduced its stake in World Fuel Services Corp (NYSE:INT) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,724 shares of the oil and gas company’s stock after selling 4,073 shares during the period. OxFORD Asset Management LLP’s holdings in World Fuel Services were worth $831,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of World Fuel Services by 151.3% in the second quarter. Sei Investments Co. now owns 26,834 shares of the oil and gas company’s stock worth $1,032,000 after buying an additional 16,156 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of World Fuel Services by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 665,689 shares of the oil and gas company’s stock worth $25,596,000 after buying an additional 26,331 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of World Fuel Services by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 5,645 shares of the oil and gas company’s stock worth $217,000 after buying an additional 49 shares during the period. Legal & General Group Plc increased its holdings in shares of World Fuel Services by 3.6% in the second quarter. Legal & General Group Plc now owns 172,060 shares of the oil and gas company’s stock worth $6,615,000 after buying an additional 6,044 shares during the period. Finally, Comerica Bank increased its holdings in World Fuel Services by 1.3% during the 2nd quarter. Comerica Bank now owns 60,908 shares of the oil and gas company’s stock valued at $2,380,000 after purchasing an additional 783 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. Bank of America downgraded World Fuel Services from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $41.00 to $36.00 in a report on Tuesday, September 26th. BidaskClub upgraded World Fuel Services from a “sell” rating to a “hold” rating in a report on Saturday, August 26th.
World Fuel Services (NYSE:INT) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. World Fuel Services had a return on equity of 5.54% and a net margin of 0.08%. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.19 billion. During the same quarter in the previous year, the business earned $0.82 EPS. World Fuel Services’s revenue was up 15.4% compared to the same quarter last year. equities analysts forecast that World Fuel Services Corp will post 2.24 earnings per share for the current year.
World Fuel Services declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. World Fuel Services’s dividend payout ratio is presently 68.57%.
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World Fuel Services Profile
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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