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

Civeo Co. (NYSE:CVEO) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 89,900 shares, a growth of 45.9% from the October 15th total of 61,600 shares. Based on an average daily trading volume, of 52,400 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.7% of the company’s stock are short sold.

Civeo Stock Performance

Shares of CVEO stock traded down $0.55 on Friday, hitting $24.93. 47,075 shares of the stock were exchanged, compared to its average volume of 51,748. 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 firm has a market capitalization of $343.29 million, a PE ratio of 17.81 and a beta of 2.06. Civeo has a one year low of $21.44 and a one year high of $28.92. The firm’s 50 day moving average is $27.17 and its two-hundred day moving average is $25.88.

Civeo (NYSE:CVEO) last issued its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $172.59 million. During the same quarter in the prior year, the business earned $0.61 EPS. Sell-side analysts expect that Civeo will post -0.58 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.01%. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVEO. StockNews.com lowered Civeo from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up previously from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Hedge Funds Weigh In On Civeo

A number of large investors have recently modified their holdings of CVEO. Quantbot Technologies LP bought a new stake in shares of Civeo during the third quarter valued at approximately $68,000. Quent Capital LLC bought a new stake in shares of Civeo during the third quarter valued at approximately $100,000. SG Americas Securities LLC bought a new stake in shares of Civeo during the second quarter valued at approximately $128,000. Aristides Capital LLC bought a new stake in shares of Civeo during the second quarter valued at approximately $213,000. Finally, State Street Corp bought a new stake in shares of Civeo during the third quarter valued at approximately $222,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.