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

Civeo Co. (NYSE:CVEO) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 157,900 shares, an increase of 70.9% from the February 13th total of 92,400 shares. Based on an average daily volume of 102,200 shares, the short-interest ratio is presently 1.5 days. Approximately 1.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th.

Civeo Price Performance

NYSE:CVEO traded up $0.09 during trading hours on Friday, hitting $20.56. 44,623 shares of the stock traded hands, compared to its average volume of 116,384. The company has a market cap of $280.74 million, a price-to-earnings ratio of 14.69 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 has a 1 year low of $20.26 and a 1 year high of $28.92. The stock has a 50 day moving average price of $23.71 and a 200 day moving average price of $24.99.

Civeo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.86%. The ex-dividend date is Monday, February 24th. Civeo’s dividend payout ratio is presently -80.00%.

Institutional Investors Weigh In On Civeo

Several large investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of Civeo during the third quarter valued at $68,000. BNP Paribas Financial Markets bought a new position in Civeo in the fourth quarter worth about $94,000. SG Americas Securities LLC raised its holdings in Civeo by 42.4% in the fourth quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider’s stock worth $149,000 after purchasing an additional 1,950 shares in the last quarter. State Street Corp bought a new position in Civeo in the third quarter worth about $222,000. Finally, XTX Topco Ltd acquired a new position in shares of Civeo during the third quarter valued at about $231,000. Institutional investors own 81.44% of the company’s stock.

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.