Civeo Co. (NYSE:CVEO – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 62,700 shares, an increase of 30.6% from the September 15th total of 48,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 46,700 shares, the short-interest ratio is currently 1.3 days.
Wall Street Analysts Forecast Growth
CVEO has been the topic of several recent analyst reports. StockNews.com raised Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.
Read Our Latest Stock Analysis on CVEO
Civeo Stock Performance
Civeo (NYSE:CVEO – Get Free Report) last issued its earnings results on Tuesday, July 30th. The business services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.35. The firm had revenue of $188.71 million for 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 in the prior year, the business earned $0.30 earnings per share. On average, analysts expect that Civeo will post -0.3 earnings per share for the current year.
Civeo Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. Civeo’s payout ratio is currently 47.39%.
Insider Buying and Selling at Civeo
In other Civeo news, SVP Allan Schoening sold 5,000 shares of Civeo stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at $444,015. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Civeo
A number of hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its holdings in shares of Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after acquiring an additional 561 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Civeo by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock valued at $567,000 after acquiring an additional 1,729 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Civeo by 42.6% in the first quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 3,220 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Civeo in the first quarter valued at approximately $98,000. Finally, Wellington Management Group LLP increased its holdings in shares of Civeo by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after purchasing an additional 4,100 shares during the last quarter. Institutional investors and hedge funds 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.
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