Civeo Co. (NYSE:CVEO) Short Interest Up 30.6% in September

by · The Cerbat Gem

Civeo Co. (NYSE:CVEO – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 62,700 shares, an increase of 30.6% from the September 15th total of 48,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 46,700 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

CVEO has been the topic of several recent analyst reports. StockNews.com raised Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.

Read Our Latest Stock Analysis on CVEO

Civeo Stock Performance

Shares of CVEO traded up $0.04 during mid-day trading on Tuesday, reaching $27.60. The company had a trading volume of 34,121 shares, compared to its average volume of 51,178. Civeo has a 52-week low of $17.98 and a 52-week high of $28.92. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $403.51 million, a P/E ratio of 13.08 and a beta of 2.04. The stock has a 50 day moving average of $27.60 and a two-hundred day moving average of $25.80.

Civeo (NYSE:CVEO – Get Free Report) last issued its earnings results on Tuesday, July 30th. The business services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.35. The firm had revenue of $188.71 million for the quarter, compared to the consensus estimate of $173.70 million. Civeo had a return on equity of 4.75% and a net margin of 4.95%. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, analysts expect that Civeo will post -0.3 earnings per share for the current year.

Civeo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. Civeo’s payout ratio is currently 47.39%.

Insider Buying and Selling at Civeo

In other Civeo news, SVP Allan Schoening sold 5,000 shares of Civeo stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at $444,015. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Civeo

A number of hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its holdings in shares of Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after acquiring an additional 561 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Civeo by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock valued at $567,000 after acquiring an additional 1,729 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Civeo by 42.6% in the first quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 3,220 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Civeo in the first quarter valued at approximately $98,000. Finally, Wellington Management Group LLP increased its holdings in shares of Civeo by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after purchasing an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Company Profile

(Get Free Report)

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.

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