State Street Corp Invests $222,000 in Civeo Co. (NYSE:CVEO)

State Street Corp bought a new stake in Civeo Co. (NYSE:CVEO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,119 shares of the business services provider’s stock, valued at approximately $222,000. State Street Corp owned 0.06% of Civeo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CVEO. Acadian Asset Management LLC boosted its stake in shares of Civeo by 58.1% in the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock valued at $5,634,000 after buying an additional 83,145 shares during the period. American Century Companies Inc. lifted its position 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 valued at $6,355,000 after acquiring an additional 46,633 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Civeo by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after purchasing an additional 39,987 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Civeo in the second quarter worth $947,000. Finally, Aristides Capital LLC acquired a new position in Civeo in the second quarter valued at about $213,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Civeo Stock Up 1.8 %

NYSE CVEO opened at $23.00 on Friday. The business has a fifty day moving average price of $23.83 and a two-hundred day moving average price of $25.55. The stock has a market capitalization of $316.78 million, a PE ratio of 16.43 and a beta of 2.04. Civeo Co. has a fifty-two week low of $21.15 and a fifty-two week high of $28.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (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 company had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. During the same quarter in the prior year, the company earned $0.61 earnings per share. Equities analysts expect that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.35%. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th.

Civeo 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.