World Kinect (NYSE:WKC) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of World Kinect (NYSE:WKC) from a strong-buy rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

WKC has been the topic of several other reports. Morgan Stanley set a $30.00 target price on World Kinect in a report on Wednesday, July 29th. Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

World Kinect Stock Up 1.0%

NYSE:WKC opened at $35.80 on Friday. The firm’s 50-day moving average price is $36.00 and its 200-day moving average price is $29.67. The company has a market capitalization of $1.83 billion, a PE ratio of -11.15, a P/E/G ratio of 0.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. World Kinect has a 1-year low of $22.21 and a 1-year high of $41.20.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.54. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The company had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period last year, the company posted $0.59 EPS. World Kinect’s revenue was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, equities analysts predict that World Kinect will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is -28.66%.

Insiders Place Their Bets

In other news, EVP Jose-Miguel Tejada sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.16, for a total transaction of $222,960.00. Following the sale, the executive vice president owned 35,676 shares of the company’s stock, valued at $1,325,720.16. This trade represents a 14.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul H. Stebbins sold 33,445 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total transaction of $1,335,458.85. Following the transaction, the director directly owned 58,878 shares of the company’s stock, valued at $2,350,998.54. The trade was a 36.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,445 shares of company stock worth $4,164,400 over the last three months. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On World Kinect

A number of institutional investors and hedge funds have recently modified their holdings of WKC. Corient Private Wealth LP boosted its position in World Kinect by 30.9% in the second quarter. Corient Private Wealth LP now owns 47,166 shares of the company’s stock worth $1,555,000 after purchasing an additional 11,135 shares during the last quarter. Optimize Financial Inc. bought a new position in World Kinect in the 2nd quarter worth $244,000. California State Teachers Retirement System boosted its holdings in World Kinect by 2,393.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,842,104 shares of the company’s stock worth $55,923,000 after buying an additional 1,768,240 shares during the period. AXQ Capital LP increased its stake in World Kinect by 113.0% in the 2nd quarter. AXQ Capital LP now owns 26,099 shares of the company’s stock worth $860,000 after buying an additional 13,848 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in World Kinect in the 2nd quarter worth $204,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

About World Kinect

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.