Civeo Co. (NYSE:CVEO) Short Interest Update

Civeo Co. (NYSE:CVEO) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 89,900 shares, an increase of 45.9% from the October 15th total of 61,600 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 52,400 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVEO. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Civeo in a research report on Wednesday, July 31st. StockNews.com cut Civeo from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Civeo Stock Down 2.2 %

Shares of NYSE CVEO traded down $0.55 during trading on Friday, hitting $24.93. The stock had a trading volume of 47,075 shares, compared to its average volume of 51,748. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. The firm has a fifty day moving average of $27.17 and a two-hundred day moving average of $25.88. Civeo has a 12 month low of $21.44 and a 12 month high of $28.92. The company has a market capitalization of $343.29 million, a PE ratio of 17.81 and a beta of 2.06.

Civeo (NYSE:CVEO) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, equities research analysts forecast that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 4.01%. Civeo’s dividend payout ratio is currently 71.43%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management bought a new position in Civeo during the second quarter valued at about $930,000. Acadian Asset Management LLC grew its position in shares of Civeo by 242.5% during the 1st quarter. Acadian Asset Management LLC now owns 143,189 shares of the business services provider’s stock valued at $3,837,000 after acquiring an additional 101,378 shares during the period. Hillsdale Investment Management Inc. increased its stake in shares of Civeo by 2,074.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock worth $3,737,000 after purchasing an additional 132,789 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Civeo by 8.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock worth $567,000 after purchasing an additional 1,729 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Civeo by 22.4% in the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares during the period. Institutional investors own 81.44% of the company’s stock.

About Civeo

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.