Short Interest in Civeo Co. (NYSE:CVEO) Grows By 55.2%

Civeo Co. (NYSE:CVEO) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 95,300 shares, an increase of 55.2% from the December 15th total of 61,400 shares. Based on an average daily trading volume, of 58,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.8% of the company’s stock are short sold.

Civeo Stock Performance

Shares of NYSE:CVEO traded down $0.14 during midday trading on Friday, reaching $23.82. 40,339 shares of the company’s stock traded hands, compared to its average volume of 47,767. Civeo has a one year low of $21.15 and a one year high of $28.92. The stock has a 50 day moving average of $23.34 and a 200 day moving average of $25.50. The company has a market cap of $328.06 million, a price-to-earnings ratio of 17.02 and a beta of 1.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a net margin of 3.00% and a return on equity of 0.11%. The company had revenue of $176.34 million for the quarter, compared to analysts’ expectations of $172.59 million. During the same period in the previous year, the business earned $0.61 EPS. As a group, equities research analysts anticipate that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 25th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Monday, November 25th. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Hedge Funds Weigh In On Civeo

Several hedge funds and other institutional investors have recently modified their holdings of CVEO. Quantbot Technologies LP purchased a new stake in Civeo during the third quarter valued at $68,000. Quent Capital LLC bought a new stake in shares of Civeo during the 3rd quarter valued at about $100,000. SG Americas Securities LLC increased its position in shares of Civeo by 42.4% during the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 1,950 shares during the last quarter. State Street Corp bought a new position in shares of Civeo in the 3rd quarter worth approximately $222,000. Finally, XTX Topco Ltd purchased a new position in shares of Civeo in the third quarter worth approximately $231,000. 81.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th.

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.