Civeo (NYSE:CVEO) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Civeo (NYSE:CVEO) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.

Civeo Stock Performance

Shares of CVEO stock opened at $22.72 on Friday. The firm has a market capitalization of $312.92 million, a PE ratio of 16.23 and a beta of 2.04. The company has a 50 day moving average price of $24.14 and a 200-day moving average price of $25.59. Civeo has a 52 week low of $21.15 and a 52 week high of $28.92. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18.

Civeo (NYSE:CVEO) last announced its 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 company had revenue of $176.34 million for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.61 earnings per share. As a group, equities research analysts expect that Civeo will post -0.58 earnings per share for the current year.

Civeo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.40%. Civeo’s dividend payout ratio is currently 71.43%.

Hedge Funds Weigh In On Civeo

Several institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in Civeo during the third quarter valued at $68,000. Quent Capital LLC purchased a new position in shares of Civeo during the 3rd quarter valued at about $100,000. Aristides Capital LLC bought a new position in shares of Civeo during the 2nd quarter valued at approximately $213,000. State Street Corp purchased a new stake in Civeo in the 3rd quarter worth approximately $222,000. Finally, XTX Topco Ltd bought a new stake in Civeo during the 3rd quarter worth approximately $231,000. Institutional investors own 81.44% of the company’s stock.

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.