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

by · The Cerbat Gem

Civeo Co. (NYSE:CVEO – Get Free Report) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 95,300 shares, a growth of 55.2% from the December 15th total of 61,400 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 58,000 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Civeo

Several institutional investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after buying an additional 50,400 shares during the last quarter. State Street Corp acquired a new position in shares of Civeo in the third quarter worth approximately $222,000. Meros Investment Management LP bought a new stake in Civeo in the third quarter valued at approximately $2,332,000. Royce & Associates LP increased its position in Civeo by 19.0% during the 3rd quarter. Royce & Associates LP now owns 93,931 shares of the business services provider’s stock valued at $2,574,000 after purchasing an additional 15,002 shares during the period. Finally, American Century Companies Inc. raised its holdings in 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 purchasing an additional 46,633 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Civeo

Civeo Price Performance

CVEO traded down $0.14 on Friday, reaching $23.82. The stock had a trading volume of 40,339 shares, compared to its average volume of 47,767. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $328.06 million, a price-to-earnings ratio of 17.02 and a beta of 1.99. Civeo has a fifty-two week low of $21.15 and a fifty-two week high of $28.92. The firm has a 50-day moving average of $23.34 and a 200-day moving average of $25.50.

Civeo (NYSE:CVEO – Get Free Report) 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 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 analyst estimates of $172.59 million. During the same period in the prior year, the company earned $0.61 EPS. As a group, sell-side analysts anticipate that Civeo will post -0.58 EPS for the current year.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

About Civeo

(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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