Civeo (NYSE:CVEO) Upgraded at StockNews.com

StockNews.com upgraded shares of Civeo (NYSE:CVEO) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Civeo Stock Performance

Civeo stock opened at $21.43 on Friday. The stock has a fifty day moving average price of $24.93 and a 200 day moving average price of $25.69. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Civeo has a 52 week low of $21.15 and a 52 week high of $28.92. The firm has a market capitalization of $295.16 million, a P/E ratio of 15.31 and a beta of 2.04.

Civeo (NYSE:CVEO) last released its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $172.59 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities research analysts anticipate that Civeo will post -0.58 earnings per share for the current year.

Civeo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. Civeo’s dividend payout ratio (DPR) is 71.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock valued at $41,767,000 after buying an additional 50,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Civeo by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider’s stock valued at $10,950,000 after purchasing an additional 39,987 shares during the last quarter. American Century Companies Inc. increased its holdings in Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 46,633 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Civeo by 58.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider’s stock worth $5,634,000 after purchasing an additional 83,145 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Civeo by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider’s stock valued at $2,627,000 after purchasing an additional 4,824 shares in the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

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.