StockNews.com Upgrades Civeo (NYSE:CVEO) to Strong-Buy

StockNews.com upgraded shares of Civeo (NYSE:CVEO) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

Civeo Price Performance

Shares of NYSE:CVEO opened at $23.28 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a market cap of $320.57 million, a P/E ratio of 16.63 and a beta of 2.06. Civeo has a 12 month low of $21.44 and a 12 month high of $28.92. The company’s 50-day moving average price is $26.36 and its two-hundred day moving average price is $25.84.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $172.59 million. During the same period last year, the company earned $0.61 earnings per share. As a group, research analysts forecast that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, November 25th. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Institutional Trading of Civeo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVEO. Lazard Asset Management LLC grew its position in shares of 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 buying an additional 3,220 shares during the period. SG Americas Securities LLC acquired a new position in shares of Civeo in the 2nd quarter valued at $128,000. TCW Group Inc. boosted its position in shares of Civeo by 1.0% in the 2nd quarter. TCW Group Inc. now owns 761,574 shares of the business services provider’s stock worth $18,978,000 after purchasing an additional 7,339 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Civeo during the second quarter worth $930,000. Finally, Raymond James & Associates increased its holdings in Civeo by 0.8% in the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock valued at $1,683,000 after purchasing an additional 561 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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.