American National Bank Trims Position in World Fuel Services Corp (INT)
American National Bank cut its position in shares of World Fuel Services Corp (NYSE:INT) by 44.5% in the 4th quarter, Holdings Channel reports. The firm owned 16,245 shares of the oil and gas company’s stock after selling 13,035 shares during the period. American National Bank’s holdings in World Fuel Services were worth $457,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Acrospire Investment Management LLC raised its holdings in shares of World Fuel Services by 130.8% in the second quarter. Acrospire Investment Management LLC now owns 3,000 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 1,700 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of World Fuel Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,789 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 567 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of World Fuel Services in the third quarter worth $170,000. Weaver C. Barksdale & Associates Inc. raised its holdings in shares of World Fuel Services by 43.6% in the fourth quarter. Weaver C. Barksdale & Associates Inc. now owns 6,479 shares of the oil and gas company’s stock worth $182,000 after acquiring an additional 1,966 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of World Fuel Services in the second quarter worth $195,000. 88.96% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on INT. ValuEngine cut World Fuel Services from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised World Fuel Services from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Bank of America cut World Fuel Services from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $41.00 to $36.00 in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.00.
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, meeting the Zacks’ consensus estimate of $0.60. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.19 billion. World Fuel Services had a return on equity of 5.54% and a net margin of 0.08%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. research analysts forecast that World Fuel Services Corp will post 2.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, December 14th. World Fuel Services’s dividend payout ratio is currently 68.57%.
World Fuel Services announced that its Board of Directors has approved a share buyback plan on Wednesday, October 4th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
World Fuel Services Company 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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