Convergence Investment Partners LLC increased its position in shares of World Fuel Services Corp (NYSE:INT) by 35.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,701 shares of the oil and gas company’s stock after buying an additional 9,868 shares during the period. Convergence Investment Partners LLC’s holdings in World Fuel Services were worth $971,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in INT. Norges Bank bought a new stake in shares of World Fuel Services in the 4th quarter worth about $43,709,000. State Street Corp increased its position in shares of World Fuel Services by 8.4% in the 1st quarter. State Street Corp now owns 2,811,657 shares of the oil and gas company’s stock worth $71,078,000 after purchasing an additional 217,672 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of World Fuel Services by 48.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 484,192 shares of the oil and gas company’s stock worth $12,192,000 after purchasing an additional 157,079 shares during the last quarter. Hillcrest Asset Management LLC bought a new stake in shares of World Fuel Services in the 1st quarter worth about $3,938,000. Finally, AJO LP increased its position in shares of World Fuel Services by 199.5% in the 1st quarter. AJO LP now owns 173,909 shares of the oil and gas company’s stock worth $4,378,000 after purchasing an additional 115,834 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE INT traded up $0.65 during midday trading on Friday, hitting $23.53. The company’s stock had a trading volume of 619,079 shares, compared to its average volume of 321,904. World Fuel Services Corp has a 1-year low of $20.04 and a 1-year high of $44.37. The firm’s fifty day moving average price is $24.32 and its 200-day moving average price is $28.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.52 and a current ratio of 1.68. The firm has a market cap of $1.49 billion, a P/E ratio of 11.42, a P/E/G ratio of 3.58 and a beta of 1.10.
World Fuel Services (NYSE:INT) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.22. World Fuel Services had a net margin of 0.46% and a return on equity of 8.55%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business posted $0.58 EPS. As a group, research analysts predict that World Fuel Services Corp will post 1.43 earnings per share for the current fiscal year.
Several research firms have recently weighed in on INT. ValuEngine raised shares of World Fuel Services from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Zacks Investment Research raised shares of World Fuel Services from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 3rd.
About World Fuel Services
World Fuel Services Corporation engages in the distribution of fuel, and related products and services in the aviation, marine, and land transportation industries worldwide. Its Aviation segment supplies fuel, and related products and services to commercial airlines, second and third tier airlines, cargo carriers, regional and low-cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets, the U.S.
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