Civeo Co. (NYSE:CVEO) Sees Significant Growth in Short Interest

Civeo Co. (NYSE:CVEO) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 48,000 shares, a growth of 77.1% from the August 31st total of 27,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 47,300 shares, the short-interest ratio is presently 1.0 days.

Civeo Price Performance

Shares of CVEO traded up $0.20 during trading hours on Friday, hitting $27.35. The stock had a trading volume of 33,448 shares, compared to its average volume of 52,489. Civeo has a 52 week low of $17.98 and a 52 week high of $28.92. The stock has a market capitalization of $399.86 million, a price-to-earnings ratio of 12.96 and a beta of 2.04. The company’s fifty day moving average is $27.19 and its two-hundred day moving average is $25.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.55 and a quick ratio of 1.46.

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

Civeo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, August 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, August 26th. Civeo’s payout ratio is presently 47.39%.

Insider Activity at Civeo

In related news, SVP Allan Schoening sold 5,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 16,146 shares in the company, valued at $444,015. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Civeo

A number of hedge funds and other institutional investors have recently made changes to their positions in CVEO. Jump Financial LLC bought a new stake in shares of Civeo during the fourth quarter valued at approximately $201,000. Janney Montgomery Scott LLC bought a new stake in shares of Civeo during the fourth quarter worth $443,000. Trexquant Investment LP acquired a new position in shares of Civeo during the fourth quarter valued at $698,000. Wellington Management Group LLP boosted its holdings in Civeo by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Civeo in the fourth quarter valued at about $529,000. 81.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up previously from $31.00) on shares of Civeo in a research report on Wednesday, July 31st.

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.