World Fuel Services (INT) Sees Large Drop in Short Interest

World Fuel Services (NYSE:INT) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 2,526,153 shares, a decline of 33.0% from the April 13th total of 3,772,103 shares. Based on an average daily volume of 959,231 shares, the days-to-cover ratio is currently 2.6 days. Currently, 3.8% of the company’s stock are short sold.

World Fuel Services opened at $22.35 on Friday, MarketBeat reports. The company has a current ratio of 1.41, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.54 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.30 and a beta of 0.92. World Fuel Services has a 1-year low of $22.04 and a 1-year high of $22.61.

World Fuel Services (NYSE:INT) last posted its earnings results on Thursday, April 26th. The oil and gas company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.12 billion. World Fuel Services had a positive return on equity of 6.83% and a negative net margin of 0.49%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. equities analysts forecast that World Fuel Services will post 1.98 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC increased its holdings in shares of World Fuel Services by 30.1% during the 1st quarter. Highbridge Capital Management LLC now owns 311,386 shares of the oil and gas company’s stock worth $7,645,000 after acquiring an additional 72,108 shares during the last quarter. Millennium Management LLC increased its holdings in shares of World Fuel Services by 674.2% during the 1st quarter. Millennium Management LLC now owns 946,510 shares of the oil and gas company’s stock worth $23,237,000 after acquiring an additional 824,246 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of World Fuel Services during the 1st quarter worth approximately $404,000. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of World Fuel Services by 56.3% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,841 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 4,985 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of World Fuel Services by 1.3% during the 1st quarter. Allianz Asset Management GmbH now owns 343,252 shares of the oil and gas company’s stock worth $8,427,000 after acquiring an additional 4,518 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on INT. ValuEngine lowered World Fuel Services from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised World Fuel Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Seaport Global Securities began coverage on World Fuel Services in a research report on Friday, February 9th. They set a “neutral” rating on the stock. TheStreet lowered World Fuel Services from a “c-” rating to a “d+” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus decreased their target price on World Fuel Services from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. World Fuel Services currently has a consensus rating of “Hold” and an average price target of $38.00.

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 offers fuel management; price risk management; ground handling; dispatch; and international trip planning services, such as flight plans, weather reports, and overflight permits.

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