Short Interest in Civeo Co. (NYSE:CVEO) Increases By 82.4%

Civeo Co. (NYSE:CVEO) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 15,500 shares, a growth of 82.4% from the May 31st total of 8,500 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 51,300 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

CVEO has been the subject of several recent research reports. StockNews.com raised Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus raised their target price on Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th.

Civeo Trading Up 1.7 %

NYSE CVEO traded up $0.42 during trading hours on Friday, hitting $24.92. 30,052 shares of the company’s stock were exchanged, compared to its average volume of 39,776. The stock has a 50-day simple moving average of $24.43 and a 200 day simple moving average of $23.95. Civeo has a 1-year low of $17.98 and a 1-year high of $28.00. The firm has a market cap of $364.33 million, a price-to-earnings ratio of 11.81 and a beta of 2.11. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26.

Civeo (NYSE:CVEO) last released its earnings results on Friday, April 26th. The business services provider reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Civeo had a return on equity of 3.53% and a net margin of 4.49%. The business had revenue of $166.12 million for the quarter, compared to analyst estimates of $154.73 million. On average, equities analysts forecast that Civeo will post 0.54 EPS for the current fiscal year.

Civeo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, May 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 4.01%. Civeo’s payout ratio is currently 47.39%.

Insider Buying and Selling at Civeo

In other Civeo news, SVP Peter Mccann sold 5,220 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total value of $123,975.00. Following the completion of the transaction, the senior vice president now directly owns 45,395 shares in the company, valued at $1,078,131.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in Civeo by 42.6% during the first quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock worth $289,000 after acquiring an additional 3,220 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Civeo by 41.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,691 shares of the business services provider’s stock valued at $421,000 after purchasing an additional 4,577 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Civeo by 2,074.8% in the first quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock valued at $3,737,000 after purchasing an additional 132,789 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Civeo by 242.5% in the first 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 in the last quarter. Finally, Meixler Investment Management Ltd. purchased a new position in Civeo during the first quarter worth about $220,000. 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.