Royal Bank of Canada Reduces Position in World Fuel Services Corporation (INT)

Royal Bank of Canada reduced its position in shares of World Fuel Services Corporation (NYSE:INT) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 528,112 shares of the oil and gas company’s stock after selling 5,201 shares during the period. Royal Bank of Canada owned approximately 0.77% of World Fuel Services Corporation worth $20,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. PDT Partners LLC acquired a new stake in World Fuel Services Corporation during the 2nd quarter worth approximately $7,567,000. HighVista Strategies LLC bought a new position in World Fuel Services Corporation during the 2nd quarter worth $919,000. Numeric Investors LLC increased its stake in World Fuel Services Corporation by 36.7% during the 2nd quarter. Numeric Investors LLC now owns 56,300 shares of the oil and gas company’s stock worth $2,165,000 after acquiring an additional 15,100 shares during the period. Voya Investment Management LLC increased its stake in World Fuel Services Corporation by 101.1% during the 2nd quarter. Voya Investment Management LLC now owns 42,449 shares of the oil and gas company’s stock worth $1,632,000 after acquiring an additional 21,343 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in World Fuel Services Corporation during the 2nd quarter worth $1,107,000. 89.66% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/12/royal-bank-of-canada-reduces-position-in-world-fuel-services-corporation-int.html.

In related news, SVP Carlos M. Velazquez sold 6,850 shares of the stock in a transaction 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 transaction, the senior vice president now owns 16,946 shares of the company’s stock, valued at $571,758.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Alexander Lake sold 1,500 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the transaction, the executive vice president now directly owns 42,302 shares in the company, valued at approximately $1,480,570. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

INT has been the topic of a number of recent research reports. BidaskClub upgraded World Fuel Services Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation lowered World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $41.00 to $36.00 in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.

World Fuel Services Corporation (INT) opened at 35.92 on Thursday. The stock has a 50 day moving average price of $35.14 and a 200 day moving average price of $36.09. World Fuel Services Corporation has a 52 week low of $32.28 and a 52 week high of $47.49. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 23.52 and a beta of 0.95.

World Fuel Services Corporation (NYSE:INT) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.41 billion. World Fuel Services Corporation had a return on equity of 5.60% and a net margin of 0.34%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that World Fuel Services Corporation will post $2.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 16th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. World Fuel Services Corporation’s payout ratio is currently 15.69%.

World Fuel Services Corporation declared that its board has approved a share buyback plan on Wednesday, October 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire 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 Corporation Profile

World Fuel Services Corporat

A number of other large investors have also recently added to or reduced their stakes in the stock. PDT Partners LLC acquired a new stake in World Fuel Services Corporation during the 2nd quarter worth approximately $7,567,000. HighVista Strategies LLC bought a new position in World Fuel Services Corporation during the 2nd quarter worth $919,000. Numeric Investors LLC increased its stake in World Fuel Services Corporation by 36.7% during the 2nd quarter. Numeric Investors LLC now owns 56,300 shares of the oil and gas company’s stock worth $2,165,000 after acquiring an additional 15,100 shares during the period. Voya Investment Management LLC increased its stake in World Fuel Services Corporation by 101.1% during the 2nd quarter. Voya Investment Management LLC now owns 42,449 shares of the oil and gas company’s stock worth $1,632,000 after acquiring an additional 21,343 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in World Fuel Services Corporation during the 2nd quarter worth $1,107,000. 89.66% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/12/royal-bank-of-canada-reduces-position-in-world-fuel-services-corporation-int.html.

In related news, SVP Carlos M. Velazquez sold 6,850 shares of the stock in a transaction 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 transaction, the senior vice president now owns 16,946 shares of the company’s stock, valued at $571,758.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Alexander Lake sold 1,500 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $35.00, for a total value of $52,500.00. Following the completion of the transaction, the executive vice president now directly owns 42,302 shares in the company, valued at approximately $1,480,570. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

INT has been the topic of a number of recent research reports. BidaskClub upgraded World Fuel Services Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered World Fuel Services Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation lowered World Fuel Services Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $41.00 to $36.00 in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.

World Fuel Services Corporation (INT) opened at 35.92 on Thursday. The stock has a 50 day moving average price of $35.14 and a 200 day moving average price of $36.09. World Fuel Services Corporation has a 52 week low of $32.28 and a 52 week high of $47.49. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 23.52 and a beta of 0.95.

World Fuel Services Corporation (NYSE:INT) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.41 billion. World Fuel Services Corporation had a return on equity of 5.60% and a net margin of 0.34%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities analysts forecast that World Fuel Services Corporation will post $2.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 16th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. World Fuel Services Corporation’s payout ratio is currently 15.69%.

World Fuel Services Corporation declared that its board has approved a share buyback plan on Wednesday, October 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire 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 Corporation 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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Institutional Ownership by Quarter for World Fuel Services Corporation (NYSE:INT)

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