Bristow Group (NYSE:VTOL) Shares Climb 5.1% – Here’s What Happened

Shares of Bristow Group Inc. (NYSE:VTOL) traded up 5.1% during trading on Tuesday. The stock traded as high as $40.28 and last traded at $40.2260. Approximately 94,085 shares traded hands during trading, a decline of 59% from the average daily volume of 232,265 shares. The stock had previously closed at $38.27.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VTOL shares. Weiss Ratings upgraded Bristow Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Zacks Research downgraded Bristow Group from a “hold” rating to a “strong sell” rating in a report on Friday. Finally, Raymond James Financial restated an “outperform” rating and issued a $63.00 target price on shares of Bristow Group in a research note on Thursday, November 5th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Bristow Group Stock Performance

The company has a market cap of $1.19 billion, a PE ratio of 15.06 and a beta of 1.22. The firm’s fifty day moving average is $41.11 and its 200 day moving average is $43.91. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.65.

Bristow Group (NYSE:VTOL) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.22). Bristow Group had a return on equity of 7.47% and a net margin of 4.98%. The firm had revenue of $437.92 million for the quarter, compared to analyst estimates of $443.25 million. As a group, research analysts predict that Bristow Group Inc. will post 2.94 EPS for the current fiscal year.

Bristow Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.1250 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.2%. Bristow Group’s payout ratio is 18.66%.

Insider Buying and Selling

In other news, insider Alternative Asset Manage Solus sold 15,000 shares of Bristow Group stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the transaction, the insider owned 2,861,796 shares in the company, valued at approximately $131,213,346.60. This trade represents a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stuart Stavley sold 10,218 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $46.20, for a total value of $472,071.60. Following the completion of the sale, the chief operating officer owned 64,740 shares in the company, valued at approximately $2,990,988. This represents a 13.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,858 shares of company stock valued at $2,431,989 in the last three months. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bristow Group

Several institutional investors have recently bought and sold shares of VTOL. PNC Financial Services Group Inc. increased its position in shares of Bristow Group by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,509 shares of the company’s stock valued at $211,000 after purchasing an additional 340 shares during the period. Allworth Financial LP increased its holdings in shares of Bristow Group by 128.3% during the second quarter. Allworth Financial LP now owns 1,032 shares of the company’s stock worth $43,000 after buying an additional 580 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bristow Group by 56.3% in the third quarter. GAMMA Investing LLC now owns 1,782 shares of the company’s stock worth $73,000 after purchasing an additional 642 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bristow Group during the 2nd quarter worth about $27,000. Finally, Nykredit A S acquired a new stake in shares of Bristow Group in the second quarter valued at approximately $27,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Company Profile

Bristow Group, Inc. provides helicopter and other aviation services, primarily supporting offshore energy operations and government customers. Its services include transporting personnel and supplies to offshore installations, as well as search-and-rescue operations and related aviation support. The company serves customers across several regions, including the Americas, Europe, Africa and Australia. Its operations include contracted search-and-rescue services in parts of Europe and the United Kingdom, alongside aviation services for the energy industry.