World Fuel Services Corp (NYSE:INT) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,367,000 shares, a decline of 27.4% from the June 30th total of 1,883,900 shares. Based on an average daily volume of 563,600 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.1% of the shares of the company are short sold.
A number of brokerages have issued reports on INT. ValuEngine downgraded World Fuel Services from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised World Fuel Services from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Wednesday, July 3rd. TheStreet raised World Fuel Services from a “c+” rating to a “b-” rating in a report on Tuesday, July 16th. Finally, Stifel Nicolaus boosted their price target on World Fuel Services from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.67.
In related news, EVP Robert Alexander Lake sold 4,500 shares of World Fuel Services stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $38.96, for a total transaction of $175,320.00. Following the completion of the sale, the executive vice president now owns 50,122 shares of the company’s stock, valued at $1,952,753.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,000 shares of company stock valued at $332,415 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.
Several large investors have recently bought and sold shares of INT. Dimensional Fund Advisors LP grew its stake in World Fuel Services by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,685,164 shares of the oil and gas company’s stock valued at $121,718,000 after buying an additional 245,831 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in World Fuel Services by 5.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,263 shares of the oil and gas company’s stock worth $370,000 after buying an additional 930 shares during the last quarter. Millennium Management LLC bought a new stake in World Fuel Services in the fourth quarter worth $1,030,000. Norges Bank bought a new stake in World Fuel Services in the fourth quarter worth $20,663,000. Finally, Geode Capital Management LLC lifted its position in shares of World Fuel Services by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 720,868 shares of the oil and gas company’s stock worth $15,433,000 after purchasing an additional 55,202 shares during the last quarter. Institutional investors own 94.79% of the company’s stock.
INT stock traded up $0.85 on Tuesday, reaching $37.94. The company’s stock had a trading volume of 323,800 shares, compared to its average volume of 501,549. World Fuel Services has a 52 week low of $19.81 and a 52 week high of $39.92. The company has a market capitalization of $2.42 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.22 and a beta of 1.17. The business has a fifty day simple moving average of $36.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.35 and a quick ratio of 1.16.
World Fuel Services (NYSE:INT) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.77 billion. World Fuel Services had a return on equity of 8.76% and a net margin of 0.38%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Research analysts anticipate that World Fuel Services will post 2.34 earnings per share for the current fiscal year.
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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