Civeo (NYSE:CVEO) Lifted to “Strong-Buy” at StockNews.com

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

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

Civeo Price Performance

Shares of CVEO opened at $23.94 on Thursday. Civeo has a 1-year low of $17.98 and a 1-year high of $28.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.74. The firm has a market capitalization of $350.00 million, a PE ratio of 11.35 and a beta of 2.11. The company’s fifty day moving average price is $24.50 and its 200-day moving average price is $23.89.

Civeo (NYSE:CVEO) last posted its quarterly earnings results on Friday, April 26th. The business services provider reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Civeo had a net margin of 4.49% and a return on equity of 3.53%. The business had revenue of $166.12 million during the quarter, compared to analysts’ expectations of $154.73 million. On average, equities research analysts predict that Civeo will post 0.54 EPS for the current year.

Civeo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, May 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 4.18%. Civeo’s dividend payout ratio is presently 47.39%.

Insider Buying and Selling at Civeo

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. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quent Capital LLC purchased a new stake in shares of Civeo in the first quarter valued at about $98,000. Hillsdale Investment Management Inc. acquired a new position in shares of Civeo in the fourth quarter valued at approximately $146,000. Meixler Investment Management Ltd. acquired a new position in Civeo during the first quarter worth approximately $220,000. Jump Financial LLC acquired a new position in Civeo during the fourth quarter worth approximately $201,000. Finally, Lazard Asset Management LLC increased its position in Civeo by 42.6% during the first quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock worth $289,000 after purchasing an additional 3,220 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.