Civeo Co. (NYSE:CVEO) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its stake in shares of Civeo Co. (NYSE:CVEO) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,863 shares of the business services provider’s stock after purchasing an additional 4,824 shares during the quarter. Empowered Funds LLC owned approximately 0.70% of Civeo worth $2,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVEO. Quent Capital LLC acquired a new position in Civeo during the 3rd quarter worth $100,000. SG Americas Securities LLC acquired a new position in Civeo during the 2nd quarter worth $128,000. Aristides Capital LLC acquired a new position in Civeo during the 2nd quarter worth $213,000. Lazard Asset Management LLC boosted its position in Civeo by 42.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock worth $289,000 after acquiring an additional 3,220 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in Civeo during the 3rd quarter worth $298,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Analyst Ratings Changes

CVEO has been the subject of several research analyst reports. StockNews.com lowered Civeo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Civeo in a report on Wednesday, July 31st.

Civeo Stock Down 0.9 %

Shares of Civeo stock opened at $24.32 on Wednesday. The stock’s fifty day moving average is $27.11 and its 200-day moving average is $25.91. The firm has a market capitalization of $334.89 million, a PE ratio of 17.37 and a beta of 2.06. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. Civeo Co. has a 12-month low of $21.44 and a 12-month high of $28.92.

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

Civeo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Monday, November 25th. Civeo’s payout ratio is 71.43%.

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.