Fearnley Asset Management AS Buys Shares of 462,634 Bristow Group Inc. $VTOL

Fearnley Asset Management AS bought a new stake in shares of Bristow Group Inc. (NYSE:VTOL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 462,634 shares of the company’s stock, valued at approximately $16,942,000. Bristow Group comprises approximately 7.8% of Fearnley Asset Management AS’s portfolio, making the stock its 6th largest holding.

Several other institutional investors also recently bought and sold shares of VTOL. Raymond James Financial Inc. acquired a new stake in shares of Bristow Group during the second quarter worth $25,000. Clearstead Advisors LLC raised its stake in Bristow Group by 1,450.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,070 shares of the company’s stock worth $39,000 after acquiring an additional 1,001 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Bristow Group by 1,645.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock worth $41,000 after acquiring an additional 1,053 shares during the last quarter. Strs Ohio acquired a new stake in Bristow Group during the 1st quarter worth about $44,000. Finally, Wolverine Asset Management LLC lifted its position in Bristow Group by 121.4% during the 4th quarter. Wolverine Asset Management LLC now owns 1,824 shares of the company’s stock worth $67,000 after acquiring an additional 1,000 shares during the period. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on VTOL shares. Zacks Research downgraded shares of Bristow Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bristow Group in a research report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.00.

Bristow Group Stock Up 0.4%

Shares of NYSE:VTOL opened at $42.53 on Friday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.08 and a beta of 1.22. Bristow Group Inc. has a 12-month low of $31.75 and a 12-month high of $50.38. The business has a 50-day moving average price of $44.63 and a 200 day moving average price of $43.09. The company has a current ratio of 2.15, a quick ratio of 1.79 and a debt-to-equity ratio of 0.69.

Bristow Group (NYSE:VTOL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.57). The business had revenue of $388.71 million for the quarter, compared to analyst estimates of $383.68 million. Bristow Group had a return on equity of 11.10% and a net margin of 7.51%. Sell-side analysts expect that Bristow Group Inc. will post 3.87 EPS for the current year.

Bristow Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.50 annualized dividend and a yield of 1.2%. Bristow Group’s payout ratio is 13.02%.

Insiders Place Their Bets

In other Bristow Group news, Director Lorin L. Brass sold 1,000 shares of Bristow Group stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director directly owned 17,455 shares in the company, valued at approximately $785,475. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.40% of the company’s stock.

Bristow Group Profile

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.