Short Interest in Civeo Co. (NYSE:CVEO) Grows By 77.1%

Civeo Co. (NYSE:CVEO) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 48,000 shares, a growth of 77.1% from the August 31st total of 27,100 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 47,300 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVEO. StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.

Insider Buying and Selling at Civeo

In other Civeo news, SVP Allan Schoening sold 5,000 shares of Civeo stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the transaction, the senior vice president now owns 16,146 shares of the company’s stock, valued at $444,015. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. grew its holdings 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 worth $3,737,000 after purchasing an additional 132,789 shares during the last quarter. Acadian Asset Management LLC grew its holdings 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 worth $3,837,000 after purchasing an additional 101,378 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Civeo by 22.4% in the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Civeo in the second quarter worth about $930,000. Finally, Dimensional Fund Advisors LP lifted its stake in Civeo by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after acquiring an additional 39,987 shares during the period. Institutional investors own 81.44% of the company’s stock.

Civeo Price Performance

CVEO traded up $0.20 during trading hours on Friday, hitting $27.35. The company’s stock had a trading volume of 33,448 shares, compared to its average volume of 52,489. The business’s 50-day moving average price is $27.19 and its 200-day moving average price is $25.64. Civeo has a 12 month low of $17.98 and a 12 month high of $28.92. The stock has a market cap of $399.86 million, a price-to-earnings ratio of 12.96 and a beta of 2.04. The company has a current ratio of 1.55, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.35. Civeo had a net margin of 4.95% and a return on equity of 4.75%. The business had revenue of $188.71 million for the quarter, compared to analysts’ expectations of $173.70 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Sell-side analysts expect that Civeo will post -0.3 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Monday, August 26th. Civeo’s dividend payout ratio (DPR) is 47.39%.

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.