JPMorgan Chase & Co. increased its holdings in shares of World Fuel Services Corp (NYSE:INT) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,541 shares of the oil and gas company’s stock after acquiring an additional 15,030 shares during the quarter. JPMorgan Chase & Co. owned about 0.80% of World Fuel Services worth $18,202,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Sei Investments Co. grew its holdings in World Fuel Services by 151.3% in the 2nd quarter. Sei Investments Co. now owns 26,834 shares of the oil and gas company’s stock valued at $1,032,000 after buying an additional 16,156 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in World Fuel Services by 17.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 86,000 shares of the oil and gas company’s stock valued at $3,307,000 after buying an additional 13,000 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in World Fuel Services by 4.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 665,689 shares of the oil and gas company’s stock valued at $25,596,000 after buying an additional 26,331 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in World Fuel Services by 0.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,645 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 49 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in World Fuel Services by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 172,060 shares of the oil and gas company’s stock valued at $6,615,000 after buying an additional 6,044 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on INT. Bank of America lowered World Fuel Services from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $41.00 to $36.00 in a report on Tuesday, September 26th. BidaskClub raised World Fuel Services from a “sell” rating to a “hold” rating in a report on Saturday, August 26th.
World Fuel Services (NYSE:INT) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.60 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 firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. equities research analysts predict that World Fuel Services Corp will post 2.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given 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 dividend yield of 0.86%. World Fuel Services’s payout ratio is 68.57%.
World Fuel Services announced that its board has authorized a share repurchase plan on Wednesday, October 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
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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