World Fuel Services Corporation Target of Unusually High Options Trading (INT)
World Fuel Services Corporation (NYSE:INT) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 1,098 call options on the stock. This represents an increase of Infinity compared to the average daily volume of 0 call options.
Several equities research analysts recently issued reports on the stock. Bank of America Corporation cut shares of World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $41.00 to $36.00 in a research report on Tuesday, September 26th. BidaskClub upgraded shares of World Fuel Services Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research cut shares of World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.
Shares of World Fuel Services Corporation (INT) opened at $28.71 on Tuesday. The firm has a market cap of $1,940.00, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.54 and a beta of 0.90. World Fuel Services Corporation has a 12-month low of $27.61 and a 12-month high of $47.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.42 and a current ratio of 1.63.
World Fuel Services Corporation (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 Thomson Reuters’ consensus estimate of $0.60. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.19 billion. World Fuel Services Corporation had a return on equity of 5.54% and a net margin of 0.08%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. equities research analysts anticipate that World Fuel Services Corporation will post 2.24 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 16th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.84%. World Fuel Services Corporation’s payout ratio is currently 68.57%.
World Fuel Services Corporation announced that its Board of Directors has initiated a share repurchase program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, SVP Carlos M. Velazquez sold 6,850 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $33.74, for a total transaction of $231,119.00. Following the completion of the sale, the senior vice president now directly owns 16,946 shares in the company, valued at $571,758.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in INT. BlackRock Inc. boosted its position in World Fuel Services Corporation by 5,327.4% during the first quarter. BlackRock Inc. now owns 5,998,492 shares of the oil and gas company’s stock worth $217,445,000 after purchasing an additional 5,887,970 shares during the period. Janus Henderson Group PLC bought a new stake in World Fuel Services Corporation during the second quarter worth approximately $101,136,000. AJO LP bought a new stake in World Fuel Services Corporation during the second quarter worth approximately $54,483,000. Dimensional Fund Advisors LP boosted its position in World Fuel Services Corporation by 49.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,589,087 shares of the oil and gas company’s stock worth $99,550,000 after purchasing an additional 859,392 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in World Fuel Services Corporation by 13.2% during the second quarter. Artisan Partners Limited Partnership now owns 3,052,815 shares of the oil and gas company’s stock worth $117,381,000 after purchasing an additional 355,049 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.
About World Fuel Services Corporation
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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