Horizon Kinetics Asset Management LLC Lowers Stake in Civeo Co. (NYSE:CVEO)

Horizon Kinetics Asset Management LLC trimmed its position in Civeo Co. (NYSE:CVEO) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,251,609 shares of the business services provider’s stock after selling 34,337 shares during the period. Civeo comprises 1.3% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Horizon Kinetics Asset Management LLC owned about 23.61% of Civeo worth $89,094,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVEO. Quent Capital LLC purchased a new stake in shares of Civeo in the 3rd quarter worth $100,000. SG Americas Securities LLC bought a new position in shares of Civeo in the second quarter worth about $128,000. Aristides Capital LLC bought a new position in shares of Civeo in the second quarter worth about $213,000. Lazard Asset Management LLC lifted its position in shares of Civeo by 42.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after buying an additional 3,220 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Civeo during the 3rd quarter valued at approximately $298,000. 81.44% of the stock is currently owned by institutional investors.

Civeo Price Performance

Shares of Civeo stock opened at $24.45 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo Co. has a 52 week low of $21.44 and a 52 week high of $28.92. The stock’s 50-day simple moving average is $26.85 and its 200-day simple moving average is $25.90. The company has a market capitalization of $336.68 million, a price-to-earnings ratio of 17.46 and a beta of 2.06.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) 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 business had revenue of $176.34 million during the quarter, compared to analysts’ expectations of $172.59 million. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, analysts expect that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 4.09%. Civeo’s payout ratio is 71.43%.

Analyst Upgrades and Downgrades

CVEO has been the topic of a number of recent analyst reports. StockNews.com cut shares of Civeo from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective (up from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.

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.