Hillsdale Investment Management Inc. Raises Position in Civeo Co. (NYSE:CVEO)

Hillsdale Investment Management Inc. grew its position in Civeo Co. (NYSE:CVEO) by 2,074.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,189 shares of the business services provider’s stock after acquiring an additional 132,789 shares during the period. Hillsdale Investment Management Inc. owned about 0.95% of Civeo worth $3,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVEO. Wellington Management Group LLP boosted its holdings in shares of Civeo by 10.2% in the third quarter. Wellington Management Group LLP now owns 446,000 shares of the business services provider’s stock valued at $9,246,000 after acquiring an additional 41,300 shares in the last quarter. Sapient Capital LLC purchased a new stake in Civeo during the fourth quarter worth about $398,000. Jump Financial LLC purchased a new stake in Civeo during the fourth quarter worth about $201,000. Boston Partners boosted its holdings in Civeo by 62.0% during the fourth quarter. Boston Partners now owns 136,247 shares of the business services provider’s stock worth $3,113,000 after buying an additional 52,168 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Civeo during the fourth quarter worth about $443,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Civeo from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th.

Civeo Trading Down 1.1 %

Shares of NYSE:CVEO traded down $0.27 during trading on Monday, reaching $24.53. The stock had a trading volume of 17,725 shares, compared to its average volume of 52,546. The business has a fifty day moving average price of $24.13 and a 200-day moving average price of $24.09. 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 stock has a market cap of $358.63 million, a P/E ratio of 11.63 and a beta of 2.07. Civeo Co. has a fifty-two week low of $17.98 and a fifty-two week high of $28.00.

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). 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. As a group, analysts anticipate that Civeo Co. will post 0.54 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, May 27th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.08%. Civeo’s payout ratio is 47.39%.

Insider Activity at Civeo

In other Civeo 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 transaction of $123,975.00. Following the completion of the sale, the senior vice president now directly owns 45,395 shares in the company, valued at $1,078,131.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.30% of the stock is owned by insiders.

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.