Civeo Co. (NYSE:CVEO) Short Interest Up 30.6% in September

Civeo Co. (NYSE:CVEO) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 62,700 shares, a growth of 30.6% from the September 15th total of 48,000 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is currently 1.3 days.

Analysts Set New Price Targets

CVEO has been the topic of several recent research reports. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Insider Buying and Selling

In related news, SVP Allan Schoening sold 5,000 shares of Civeo stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the sale, the senior vice president now owns 16,146 shares of the company’s stock, valued at approximately $444,015. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Civeo

Several institutional investors and hedge funds have recently bought and sold shares of CVEO. TCW Group Inc. raised its position in Civeo by 1.0% during the 2nd quarter. TCW Group Inc. now owns 761,574 shares of the business services provider’s stock valued at $18,978,000 after purchasing an additional 7,339 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock worth $10,285,000 after acquiring an additional 4,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Civeo by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock worth $10,950,000 after acquiring an additional 39,987 shares in the last quarter. American Century Companies Inc. grew its holdings in Civeo by 22.4% in the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Civeo by 58.1% during the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock valued at $5,634,000 after purchasing an additional 83,145 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors.

Civeo Price Performance

NYSE:CVEO traded up $0.04 during midday trading on Tuesday, hitting $27.60. The company had a trading volume of 34,121 shares, compared to its average volume of 51,178. The stock’s fifty day moving average price is $27.58 and its 200-day moving average price is $25.79. Civeo has a 52-week low of $17.98 and a 52-week high of $28.92. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $403.51 million, a PE ratio of 13.09 and a beta of 2.04.

Civeo (NYSE:CVEO) last released its earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.35. The company had revenue of $188.71 million during the quarter, compared to the consensus estimate of $173.70 million. Civeo had a return on equity of 4.75% and a net margin of 4.95%. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, research analysts expect that Civeo will post -0.3 earnings per share for the current year.

Civeo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, August 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Monday, August 26th. Civeo’s dividend payout ratio (DPR) is presently 47.39%.

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.