Mad River Investors Sells 2,880 Shares of Civeo Co. (NYSE:CVEO)

Mad River Investors lessened its stake in Civeo Co. (NYSE:CVEO) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,866 shares of the business services provider’s stock after selling 2,880 shares during the period. Civeo accounts for approximately 4.5% of Mad River Investors’ portfolio, making the stock its 5th largest position. Mad River Investors’ holdings in Civeo were worth $6,494,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVEO. Hillsdale Investment Management Inc. purchased a new stake in shares of Civeo in the fourth quarter valued at about $146,000. Jump Financial LLC purchased a new position in shares of Civeo in the 4th quarter valued at approximately $201,000. Sapient Capital LLC acquired a new position in shares of Civeo in the fourth quarter valued at approximately $398,000. Janney Montgomery Scott LLC purchased a new stake in shares of Civeo during the fourth quarter worth approximately $443,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Civeo during the fourth quarter worth $529,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Insider Buying and Selling at Civeo

In related news, SVP Peter Mccann sold 5,220 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVEO shares. StockNews.com raised shares of Civeo from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th. Stifel Nicolaus boosted their target price on Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th.

Civeo Price Performance

Shares of NYSE CVEO traded down $0.18 during trading on Thursday, hitting $23.59. 25,590 shares of the company were exchanged, compared to its average volume of 35,730. The firm’s fifty day moving average price is $24.30 and its 200 day moving average price is $23.98. 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 company has a market cap of $344.89 million, a price-to-earnings ratio of 11.20 and a beta of 2.07. Civeo Co. has a 1 year low of $17.98 and a 1 year high of $28.00.

Civeo (NYSE:CVEO) last issued 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). Civeo had a net margin of 4.49% and a return on equity of 3.53%. The company had revenue of $166.12 million during the quarter, compared to analysts’ expectations of $154.73 million. On average, sell-side analysts expect that Civeo Co. will post 0.54 earnings per share for the current fiscal year.

Civeo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, May 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.24%. Civeo’s payout ratio is 47.39%.

Civeo 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.