StockNews.com Lowers Civeo (NYSE:CVEO) to Buy

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

Separately, Stifel Nicolaus increased their target price on shares of Civeo from $30.00 to $31.00 and gave the stock a buy rating in a report on Tuesday, April 30th.

Civeo Price Performance

Civeo stock opened at $24.18 on Friday. The firm has a market cap of $353.51 million, a PE ratio of 11.46 and a beta of 2.21. Civeo has a 52-week low of $17.98 and a 52-week high of $28.00. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $25.44 and its two-hundred day moving average is $23.74.

Civeo (NYSE:CVEO) last released its earnings results on Friday, April 26th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). The business had revenue of $166.12 million for the quarter, compared to analyst estimates of $154.73 million. Civeo had a return on equity of 3.53% and a net margin of 4.49%. On average, research analysts expect that Civeo will post 0.47 EPS for the current fiscal year.

Civeo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.14%. Civeo’s payout ratio is 47.39%.

Insider Activity

In other news, SVP Peter Mccann sold 5,220 shares of the firm’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quent Capital LLC purchased a new position in shares of Civeo in the 1st quarter valued at $98,000. Hillsdale Investment Management Inc. purchased a new position in shares of Civeo in the 4th quarter valued at $146,000. Jump Financial LLC purchased a new position in shares of Civeo in the 4th quarter valued at $201,000. Meixler Investment Management Ltd. purchased a new position in shares of Civeo in the 1st quarter valued at $220,000. Finally, Lazard Asset Management LLC grew its position in shares of Civeo by 42.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after buying an additional 3,220 shares during the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.