Civeo Co. (NYSE:CVEO) Short Interest Up 45.9% in October

Civeo Co. (NYSE:CVEO) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 89,900 shares, a growth of 45.9% from the October 15th total of 61,600 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 52,400 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of Civeo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in Civeo during the 3rd quarter worth approximately $68,000. Quent Capital LLC bought a new position in shares of Civeo in the third quarter valued at approximately $100,000. SG Americas Securities LLC bought a new position in shares of Civeo in the second quarter valued at approximately $128,000. Aristides Capital LLC bought a new position in shares of Civeo in the second quarter valued at approximately $213,000. Finally, State Street Corp bought a new position in shares of Civeo in the third quarter valued at approximately $222,000. 81.44% of the stock is owned by institutional investors.

Civeo Stock Down 2.2 %

CVEO stock traded down $0.55 during trading on Friday, reaching $24.93. 47,075 shares of the stock were exchanged, compared to its average volume of 51,748. The firm’s 50 day moving average is $27.17 and its 200 day moving average is $25.88. Civeo has a twelve month low of $21.44 and a twelve month high of $28.92. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $343.29 million, a P/E ratio of 17.81 and a beta of 2.06.

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 analysts’ consensus estimates of $0.02 by ($0.38). The firm had revenue of $176.34 million for the quarter, compared to analyst estimates of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same period last year, the company posted $0.61 earnings per share. As a group, research analysts forecast that Civeo will post -0.58 EPS for the current year.

Civeo Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Monday, November 25th. Civeo’s dividend payout ratio is currently 71.43%.

Analyst Ratings Changes

CVEO has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Civeo in a research note on Wednesday, July 31st. StockNews.com downgraded Civeo from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

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.