Brokerages Set World Kinect Corporation (NYSE:WKC) Price Target at $28.75

World Kinect Corporation (NYSE:WKC) has been given an average recommendation of “Reduce” by the six ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.75.

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research report on Monday, December 29th. Zacks Research upgraded World Kinect from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th.

World Kinect Price Performance

WKC opened at $27.37 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $25.53 and its 200 day moving average price is $25.58. World Kinect has a fifty-two week low of $22.70 and a fifty-two week high of $31.54. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -3.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, December 15th were given a $0.20 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.80 annualized dividend and a yield of 2.9%. World Kinect’s dividend payout ratio (DPR) is currently -10.34%.

Institutional Investors Weigh In On World Kinect

Large investors have recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after buying an additional 652 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of World Kinect by 52.8% in the third quarter. Clearstead Advisors LLC now owns 1,261 shares of the company’s stock worth $33,000 after purchasing an additional 436 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of World Kinect by 282.7% during the third quarter. Hantz Financial Services Inc. now owns 1,286 shares of the company’s stock valued at $33,000 after purchasing an additional 950 shares during the period. Versant Capital Management Inc raised its stake in shares of World Kinect by 369.3% during the third quarter. Versant Capital Management Inc now owns 2,112 shares of the company’s stock valued at $55,000 after purchasing an additional 1,662 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in World Kinect in the third quarter worth about $61,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.