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

StockNews.com downgraded shares of Civeo (NYSE:CVEO) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Separately, Stifel Nicolaus lifted their price target on shares of Civeo from $30.00 to $31.00 and gave the company a buy rating in a research report on Tuesday.

Civeo Stock Performance

Shares of CVEO stock opened at $24.20 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Civeo has a 52 week low of $17.98 and a 52 week high of $28.00. The firm has a market capitalization of $353.80 million, a price-to-earnings ratio of 11.47 and a beta of 2.21. The stock has a fifty day moving average of $25.21 and a 200 day moving average of $23.19.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.33. Civeo had a net margin of 4.49% and a return on equity of 3.53%. The company had revenue of $170.80 million during the quarter, compared to the consensus estimate of $151.12 million. As a group, research analysts expect that Civeo will post 0.47 earnings per share for the current year.

Civeo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, May 23rd. Civeo’s dividend payout ratio (DPR) is 47.39%.

Insider Transactions at Civeo

In related news, SVP Peter Mccann sold 5,220 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $23.75, for a total value of $123,975.00. Following the completion of the transaction, the senior vice president now directly owns 45,395 shares in the company, valued at approximately $1,078,131.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Civeo

Hedge funds have recently bought and sold shares of the business. Brown Advisory Inc. grew its stake in shares of Civeo by 21.3% in the third quarter. Brown Advisory Inc. now owns 315,719 shares of the business services provider’s stock worth $6,545,000 after acquiring an additional 55,534 shares during the period. Boston Partners boosted its holdings in Civeo by 62.0% in the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 52,168 shares during the last quarter. FMR LLC grew its position in Civeo by 4.5% in the 3rd quarter. FMR LLC now owns 1,206,052 shares of the business services provider’s stock worth $25,001,000 after purchasing an additional 51,400 shares during the period. Wellington Management Group LLP raised its stake in Civeo by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock valued at $9,246,000 after buying an additional 41,300 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Civeo during the 4th quarter valued at $698,000. Hedge funds and other 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.