Civeo Co. (NYSE:CVEO) Sees Significant Increase in Short Interest

Civeo Co. (NYSE:CVEO) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 89,900 shares, a growth of 45.9% from the October 15th total of 61,600 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 52,400 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. boosted its holdings in 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 acquiring an additional 132,789 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in 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 acquiring an additional 101,378 shares during the last quarter. FMR LLC boosted its holdings in shares of Civeo by 3.4% during 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after buying an additional 46,633 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Civeo during the 2nd quarter worth approximately $930,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVEO. StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price (up previously from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Civeo Stock Down 2.2 %

Shares of NYSE CVEO traded down $0.55 during midday trading on Friday, reaching $24.93. The company’s stock had a trading volume of 47,075 shares, compared to its average volume of 51,748. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Civeo has a fifty-two week low of $21.44 and a fifty-two week high of $28.92. The stock has a market capitalization of $343.29 million, a price-to-earnings ratio of 17.81 and a beta of 2.06. The stock has a 50 day simple moving average of $27.17 and a 200-day simple moving average of $25.88.

Civeo (NYSE:CVEO) last released its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.38). Civeo had a net margin of 3.00% and a return on equity of 0.11%. The firm had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same period in the prior year, the business posted $0.61 earnings per share. Equities research analysts predict that Civeo will post -0.58 earnings per share for the current year.

Civeo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Monday, November 25th. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

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.