World Kinect Corporation (NYSE:WKC) Receives $28.75 Average Target Price from Brokerages

World Kinect Corporation (NYSE:WKC) has been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $28.75.

A number of research firms recently commented on WKC. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research note on Monday, December 29th. Zacks Research upgraded World Kinect from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th.

World Kinect Stock Performance

Shares of WKC opened at $28.01 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $25.29 and a 200-day moving average price of $25.60. The company has a market cap of $1.56 billion, a PE ratio of -3.62, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13. World Kinect has a 12-month low of $22.70 and a 12-month high of $31.54.

World Kinect Dividend Announcement

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

Hedge Funds Weigh In On World Kinect

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in World Kinect by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock worth $157,297,000 after purchasing an additional 62,111 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of World Kinect by 0.5% in the 2nd quarter. Brandes Investment Partners LP now owns 2,635,485 shares of the company’s stock valued at $74,716,000 after acquiring an additional 13,262 shares during the last quarter. Invesco Ltd. lifted its stake in shares of World Kinect by 9.5% in the 3rd quarter. Invesco Ltd. now owns 2,450,762 shares of the company’s stock valued at $63,597,000 after acquiring an additional 213,145 shares during the last quarter. LSV Asset Management boosted its holdings in World Kinect by 11.4% during the 4th quarter. LSV Asset Management now owns 1,938,804 shares of the company’s stock valued at $45,426,000 after acquiring an additional 198,076 shares during the period. Finally, Millennium Management LLC grew its position in World Kinect by 373.8% during the 3rd quarter. Millennium Management LLC now owns 1,602,996 shares of the company’s stock worth $41,598,000 after acquiring an additional 1,264,684 shares during the last quarter. Institutional investors 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.