Civeo Co. (NYSE:CVEO) Sees Large Drop in Short Interest

Civeo Co. (NYSE:CVEO) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 85,500 shares, a decrease of 7.0% from the January 15th total of 91,900 shares. Based on an average trading volume of 80,100 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Civeo by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 19,707 shares of the business services provider’s stock valued at $448,000 after buying an additional 894 shares during the period. SG Americas Securities LLC grew its holdings in shares of Civeo by 42.4% during the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock worth $149,000 after purchasing an additional 1,950 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Civeo in the third quarter worth $68,000. LPL Financial LLC raised its stake in Civeo by 11.1% in the fourth quarter. LPL Financial LLC now owns 25,687 shares of the business services provider’s stock valued at $584,000 after purchasing an additional 2,575 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Civeo during the fourth quarter worth about $94,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Stock Performance

Shares of NYSE CVEO opened at $25.06 on Wednesday. Civeo has a one year low of $21.15 and a one year 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. The firm has a market cap of $345.01 million, a price-to-earnings ratio of 17.90 and a beta of 2.00. The stock’s fifty day moving average price is $23.35 and its two-hundred day moving average price is $25.46.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Monday, February 24th. Civeo’s dividend payout ratio (DPR) is 71.43%.

Analysts Set New Price Targets

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

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.