World Fuel Services Corp (INT) Stake Lifted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP boosted its stake in World Fuel Services Corp (NYSE:INT) by 14.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,952,606 shares of the oil and gas company’s stock after buying an additional 363,519 shares during the period. Dimensional Fund Advisors LP owned approximately 4.37% of World Fuel Services worth $100,122,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Bank of Australia grew its stake in World Fuel Services by 54.3% in the 3rd quarter. Commonwealth Bank of Australia now owns 62,800 shares of the oil and gas company’s stock valued at $2,125,000 after buying an additional 22,100 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in World Fuel Services in the 3rd quarter valued at about $220,000. Citadel Advisors LLC grew its stake in World Fuel Services by 119.3% in the 3rd quarter. Citadel Advisors LLC now owns 152,354 shares of the oil and gas company’s stock valued at $5,166,000 after buying an additional 82,888 shares during the last quarter. Schroder Investment Management Group grew its stake in World Fuel Services by 32.0% in the 3rd quarter. Schroder Investment Management Group now owns 358,812 shares of the oil and gas company’s stock valued at $12,060,000 after buying an additional 86,904 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in World Fuel Services by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 541,541 shares of the oil and gas company’s stock valued at $18,202,000 after buying an additional 15,030 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.
A number of research analysts recently commented on the stock. Bank of America lowered shares of World Fuel Services from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $41.00 to $36.00 in a research note on Tuesday, September 26th. BidaskClub upgraded shares of World Fuel Services from a “sell” rating to a “hold” rating in a research note 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 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. World Fuel Services had a net margin of 0.08% and a return on equity of 5.54%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.19 billion. During the same quarter in the prior year, the business earned $0.82 EPS. World Fuel Services’s quarterly revenue was up 15.4% on a year-over-year basis. 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 buyback program 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 buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a dividend of $0.06 per share. The ex-dividend date 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 presently 68.57%.
About World Fuel Services
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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