Civeo (NYSE:CVEO) Downgraded to Buy at StockNews.com

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

Separately, Stifel Nicolaus increased their price target on shares of Civeo from $30.00 to $31.00 and gave the company a buy rating in a research note on Tuesday.

Civeo Stock Up 0.9 %

Shares of NYSE CVEO opened at $23.27 on Tuesday. Civeo has a 12-month low of $17.98 and a 12-month high of $28.00. The stock has a market cap of $341.14 million, a PE ratio of 11.03 and a beta of 2.17. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $25.14 and a 200 day moving average of $23.17.

Civeo (NYSE:CVEO) last announced its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.33. Civeo had a net margin of 4.49% and a return on equity of 3.53%. The company had revenue of $170.80 million during the quarter, compared to analysts’ expectations of $151.12 million. As a group, sell-side analysts predict that Civeo will post 0.14 EPS for the current fiscal year.

Civeo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. Civeo’s dividend payout ratio (DPR) is 47.39%.

Institutional Trading of Civeo

Several hedge funds have recently made changes to their positions in the company. Moors & Cabot Inc. grew its stake in shares of Civeo by 4.3% in the 3rd quarter. Moors & Cabot Inc. now owns 43,083 shares of the business services provider’s stock valued at $893,000 after buying an additional 1,767 shares during the period. Wellington Management Group LLP lifted its holdings 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 during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Civeo in the 4th quarter worth approximately $146,000. UBS Group AG lifted its holdings in shares of Civeo by 6.1% in the 3rd quarter. UBS Group AG now owns 118,190 shares of the business services provider’s stock worth $2,450,000 after acquiring an additional 6,841 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Civeo by 47.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,547 shares of the business services provider’s stock worth $488,000 after acquiring an additional 7,622 shares during the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

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.