World Fuel Services Corporation (NYSE:INT) saw a large drop in short interest in September. As of September 29th, there was short interest totalling 1,036,614 shares, a drop of 40.2% from the September 15th total of 1,733,543 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 451,628 shares, the days-to-cover ratio is presently 2.3 days.

Several analysts have recently weighed in on INT shares. BidaskClub raised World Fuel Services Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research lowered World Fuel Services Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Bank of America Corporation lowered World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $41.00 to $36.00 in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. World Fuel Services Corporation currently has an average rating of “Hold” and a consensus target price of $42.00.

Shares of World Fuel Services Corporation (NYSE:INT) opened at 35.90 on Monday. World Fuel Services Corporation has a 52 week low of $32.28 and a 52 week high of $47.49. The company has a 50-day moving average price of $35.42 and a 200 day moving average price of $36.07. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 23.51 and a beta of 0.95.

World Fuel Services Corporation (NYSE:INT) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.06). World Fuel Services Corporation had a return on equity of 5.60% and a net margin of 0.34%. The company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter last year, the business earned $0.63 EPS. World Fuel Services Corporation’s revenue was up 21.9% on a year-over-year basis. Analysts expect that World Fuel Services Corporation will post $2.26 EPS for the current fiscal year.

World Fuel Services Corporation declared that its board has approved a share buyback program on Wednesday, October 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Monday, October 16th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.67%. World Fuel Services Corporation’s dividend payout ratio (DPR) is presently 15.69%.

In other news, EVP Robert Alexander Lake sold 1,500 shares of World Fuel Services Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $52,500.00. Following the sale, the executive vice president now owns 42,302 shares of the company’s stock, valued at approximately $1,480,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carlos M. Velazquez sold 6,850 shares of World Fuel Services Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $33.74, for a total value of $231,119.00. Following the sale, the senior vice president now directly owns 16,946 shares in the company, valued at approximately $571,758.04. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Artisan Partners Limited Partnership increased its stake in World Fuel Services Corporation by 13.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,052,815 shares of the oil and gas company’s stock worth $117,381,000 after acquiring an additional 355,049 shares during the period. Prudential Financial Inc. increased its stake in World Fuel Services Corporation by 13.7% during the 2nd quarter. Prudential Financial Inc. now owns 685,909 shares of the oil and gas company’s stock worth $26,374,000 after acquiring an additional 82,740 shares during the period. Sei Investments Co. increased its stake in World Fuel Services Corporation by 151.3% during the 2nd quarter. Sei Investments Co. now owns 26,834 shares of the oil and gas company’s stock worth $1,032,000 after acquiring an additional 16,156 shares during the period. Legal & General Group Plc increased its stake in World Fuel Services Corporation by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 172,060 shares of the oil and gas company’s stock worth $6,615,000 after acquiring an additional 6,044 shares during the period. Finally, Credit Agricole S A increased its stake in World Fuel Services Corporation by 199.4% during the 1st quarter. Credit Agricole S A now owns 9,164 shares of the oil and gas company’s stock worth $332,000 after acquiring an additional 6,103 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

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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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