Civeo Co. (NYSE:CVEO) Short Interest Update

Civeo Co. (NYSE:CVEO) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 41,100 shares, an increase of 111.9% from the July 31st total of 19,400 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 40,500 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price objective (up from $31.00) on shares of Civeo in a research report on Wednesday, July 31st. StockNews.com raised shares of Civeo from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th.

Insider Buying and Selling at Civeo

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TCW Group Inc. grew its stake in Civeo by 1.0% in the second quarter. TCW Group Inc. now owns 761,574 shares of the business services provider’s stock valued at $18,978,000 after acquiring an additional 7,339 shares during the period. Wellington Management Group LLP lifted its position in Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after acquiring an additional 4,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Civeo by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock valued at $10,950,000 after purchasing an additional 39,987 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Civeo by 13.4% in the fourth quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock worth $8,183,000 after purchasing an additional 42,378 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Civeo by 22.4% during the second 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. 81.44% of the stock is owned by institutional investors and hedge funds.

Civeo Trading Up 1.1 %

Shares of CVEO stock traded up $0.30 during trading hours on Friday, hitting $28.46. 42,304 shares of the company’s stock traded hands, compared to its average volume of 51,746. The stock has a market cap of $416.09 million, a PE ratio of 13.49 and a beta of 2.07. The stock’s 50 day simple moving average is $25.63 and its 200 day simple moving average is $24.97. The company has a quick ratio of 1.74, a current ratio of 1.55 and a debt-to-equity ratio of 0.16. Civeo has a 12 month low of $17.98 and a 12 month high of $28.66.

Civeo (NYSE:CVEO) last announced its earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.35. Civeo had a return on equity of 4.75% and a net margin of 4.95%. The business had revenue of $188.71 million during the quarter, compared to analyst estimates of $173.70 million. During the same period last year, the company earned $0.30 EPS. On average, sell-side analysts anticipate that Civeo will post -0.3 EPS for the current year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, August 26th. Civeo’s dividend payout ratio (DPR) is presently 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.