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

Civeo Co. (NYSE:CVEO) saw a significant 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. Based on an average daily volume of 58,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.8% of the shares of the company are sold short.

Civeo Stock Performance

NYSE:CVEO traded down $0.14 during mid-day trading on Friday, reaching $23.82. 40,339 shares of the company’s stock were exchanged, compared to its average volume of 47,767. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a market capitalization of $328.06 million, a PE ratio of 17.02 and a beta of 1.99. Civeo has a one year low of $21.15 and a one year high of $28.92. The business’s fifty day simple moving average is $23.34 and its two-hundred day simple moving average is $25.50.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The business had revenue of $176.34 million during the quarter, compared to analyst estimates of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Analysts anticipate that Civeo will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, November 25th. Civeo’s payout ratio is currently 71.43%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Civeo

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in Civeo by 42.4% in the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after buying an additional 1,950 shares during the period. Meros Investment Management LP acquired a new position in Civeo during the third quarter valued at approximately $2,332,000. XTX Topco Ltd bought a new stake in Civeo during the third quarter worth $231,000. State Street Corp acquired a new stake in shares of Civeo in the 3rd quarter valued at $222,000. Finally, Quantbot Technologies LP bought a new position in shares of Civeo in the 3rd quarter valued at $68,000. Institutional investors own 81.44% of the company’s stock.

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.