Civeo Co. (NYSE:CVEO) Short Interest Up 30.6% in September

Civeo Co. (NYSE:CVEO) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 62,700 shares, an increase of 30.6% from the September 15th total of 48,000 shares. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.5% of the shares of the stock are sold short.

Insider Activity at Civeo

In related news, SVP Allan Schoening sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the sale, the senior vice president now owns 16,146 shares of the company’s stock, valued at approximately $444,015. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ritholtz Wealth Management acquired a new stake in shares of Civeo in the third quarter valued at $298,000. Quent Capital LLC acquired a new stake in shares of Civeo in the third quarter valued at $100,000. Aristides Capital LLC acquired a new stake in shares of Civeo in the second quarter valued at $213,000. Bank of Montreal Can acquired a new stake in shares of Civeo in the second quarter valued at $947,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Civeo by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock valued at $10,950,000 after acquiring an additional 39,987 shares in the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Trading Up 0.1 %

Shares of CVEO traded up $0.04 during midday trading on Tuesday, hitting $27.60. 34,121 shares of the stock were exchanged, compared to its average volume of 51,178. Civeo has a 52-week low of $17.98 and a 52-week high of $28.92. The stock has a fifty day simple moving average of $27.60 and a 200 day simple moving average of $25.80. The firm has a market cap of $403.51 million, a P/E ratio of 13.08 and a beta of 2.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.55.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 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 business posted $0.30 earnings per share. On average, research analysts anticipate that Civeo will post -0.3 EPS for the current fiscal year.

Civeo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, August 26th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 3.62%. Civeo’s dividend payout ratio is currently 47.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.

About Civeo

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.