Civeo (NYSE:CVEO) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Civeo (NYSE:CVEO) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Civeo Price Performance

NYSE:CVEO opened at $22.87 on Friday. Civeo has a 52 week low of $21.44 and a 52 week high of $28.92. The stock’s fifty day moving average is $25.50 and its two-hundred day moving average is $25.76. The company has a market capitalization of $314.92 million, a P/E ratio of 16.34 and a beta of 2.03. 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 (NYSE:CVEO) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). Civeo had a return on equity of 0.11% and a net margin of 3.00%. 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 posted $0.61 EPS. Equities analysts expect that Civeo will post -0.58 EPS for the current year.

Civeo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 4.37%. Civeo’s dividend payout ratio (DPR) is 71.43%.

Institutional Investors Weigh In On Civeo

Several institutional investors have recently modified their holdings of CVEO. Quantbot Technologies LP purchased a new stake in Civeo in the third quarter valued at $68,000. Quent Capital LLC acquired a new stake in shares of Civeo during the third quarter worth about $100,000. SG Americas Securities LLC purchased a new stake in shares of Civeo in the 2nd quarter valued at about $128,000. State Street Corp purchased a new stake in shares of Civeo in the 3rd quarter valued at about $222,000. Finally, XTX Topco Ltd acquired a new stake in shares of Civeo in the 3rd quarter valued at about $231,000. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.