Bristow Group (NYSE:VTOL) Sets New 1-Year High – Here’s Why

Bristow Group Inc. (NYSE:VTOL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $50.28 and last traded at $49.7450, with a volume of 16429 shares. The stock had previously closed at $49.34.

Analyst Ratings Changes

Several equities analysts recently commented on VTOL shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Raymond James Financial started coverage on Bristow Group in a report on Tuesday, February 17th. They set an “outperform” rating and a $60.00 price objective for the company. Zacks Research upgraded Bristow Group to a “hold” rating in a research report on Thursday, February 19th. JonesTrading assumed coverage on Bristow Group in a research report on Friday, January 23rd. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded Bristow Group from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.00.

Bristow Group Stock Performance

The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.51 and a beta of 1.35. The company has a current ratio of 1.90, a quick ratio of 1.54 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $45.50 and its 200 day moving average price is $40.77.

Bristow Group (NYSE:VTOL) last released its earnings results on Wednesday, February 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. Bristow Group had a net margin of 8.66% and a return on equity of 12.87%. The company had revenue of $377.26 million for the quarter, compared to analyst estimates of $380.33 million.

Bristow Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Friday, March 13th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 13th. Bristow Group’s payout ratio is presently 11.57%.

Insider Buying and Selling

In other Bristow Group news, Director Wesley E. Kern sold 3,079 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $46.83, for a total transaction of $144,189.57. Following the sale, the director owned 32,000 shares in the company, valued at approximately $1,498,560. This represents a 8.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lorin L. Brass sold 1,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director owned 17,455 shares in the company, valued at $785,475. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,104 shares of company stock valued at $2,869,206 in the last quarter. Corporate insiders own 13.40% of the company’s stock.

Hedge Funds Weigh In On Bristow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fearnley Asset Management AS purchased a new position in Bristow Group in the 4th quarter valued at about $16,942,000. State of Tennessee Department of Treasury boosted its position in Bristow Group by 30.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 17,178 shares of the company’s stock valued at $629,000 after buying an additional 3,990 shares during the last quarter. Empowered Funds LLC boosted its position in Bristow Group by 4.0% in the 4th quarter. Empowered Funds LLC now owns 139,922 shares of the company’s stock valued at $5,124,000 after buying an additional 5,433 shares during the last quarter. XTX Topco Ltd purchased a new position in Bristow Group in the 4th quarter valued at about $800,000. Finally, VARCOV Co. purchased a new position in Bristow Group in the 4th quarter valued at about $291,000. 93.29% of the stock is owned by hedge funds and other institutional investors.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.