Civeo (NYSE:CVEO) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Civeo (NYSE:CVEO) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Civeo Trading Up 4.2 %

NYSE:CVEO opened at $24.22 on Monday. Civeo has a 12 month low of $20.26 and a 12 month high of $28.92. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $23.36 and its 200 day moving average is $24.49. The stock has a market capitalization of $330.70 million, a PE ratio of 17.30 and a beta of 2.03.

Civeo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 4.13%. Civeo’s payout ratio is -80.00%.

Hedge Funds Weigh In On Civeo

Several large investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock worth $41,767,000 after buying an additional 50,400 shares during the period. OFI Invest Asset Management bought a new position in shares of Civeo in the fourth quarter worth $878,000. TCW Group Inc. grew its position in shares of Civeo by 4.2% in the fourth quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock valued at $17,727,000 after purchasing an additional 31,157 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of Civeo by 218.5% during the 4th quarter. WINTON GROUP Ltd now owns 26,256 shares of the business services provider’s stock valued at $597,000 after purchasing an additional 18,013 shares during the period. Finally, Boston Partners raised its stake in shares of Civeo by 22.6% during the 4th quarter. Boston Partners now owns 139,434 shares of the business services provider’s stock valued at $3,168,000 after purchasing an additional 25,726 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Civeo Company Profile

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.