Civeo Co. (NYSE:CVEO) Short Interest Update

Civeo Co. (NYSE:CVEO) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 41,100 shares, a growth of 111.9% from the July 31st total of 19,400 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 40,500 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, SVP Allan Schoening sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the senior vice president now owns 16,146 shares in the company, valued at $444,015. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Civeo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its position in Civeo by 2,074.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock valued at $3,737,000 after buying an additional 132,789 shares during the last quarter. Acadian Asset Management LLC raised its stake 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 purchasing an additional 101,378 shares during the period. Boston Partners lifted its holdings in Civeo by 62.0% during the 4th quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 52,168 shares in the last quarter. American Century Companies Inc. boosted its stake in 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. Finally, Brown Advisory Inc. increased its position in shares of Civeo by 13.4% during the fourth quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock valued at $8,183,000 after buying an additional 42,378 shares during the period. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Stock Performance

NYSE:CVEO traded up $0.30 during mid-day trading on Friday, hitting $28.46. The stock had a trading volume of 42,304 shares, compared to its average volume of 51,746. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.74 and a current ratio of 1.55. The company’s 50 day simple moving average is $25.63 and its 200 day simple moving average is $24.97. The stock has a market cap of $416.09 million, a price-to-earnings ratio of 13.49 and a beta of 2.07. Civeo has a twelve month low of $17.98 and a twelve month high of $28.66.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.35. The business had revenue of $188.71 million during the quarter, compared to the consensus estimate of $173.70 million. Civeo had a return on equity of 4.75% and a net margin of 4.95%. During the same quarter last year, the firm posted $0.30 EPS. On average, equities research analysts forecast that Civeo will post -0.3 earnings per share for the current year.

Civeo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, August 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, August 26th. Civeo’s dividend payout ratio is presently 47.39%.

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.