Short Interest in Civeo Co. (NYSE:CVEO) Drops By 21.7%

Civeo Co. (NYSE:CVEO) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 70,400 shares, a decrease of 21.7% from the October 31st total of 89,900 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 53,600 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of Civeo

Several hedge funds and other institutional investors have recently modified their holdings of CVEO. Quantbot Technologies LP purchased a new stake in shares of Civeo in the third quarter worth approximately $68,000. Quent Capital LLC purchased a new stake in Civeo in the 3rd quarter worth approximately $100,000. SG Americas Securities LLC purchased a new position in shares of Civeo during the 2nd quarter valued at $128,000. Aristides Capital LLC acquired a new position in shares of Civeo in the second quarter worth $213,000. Finally, State Street Corp purchased a new stake in shares of Civeo during the third quarter worth $222,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Civeo from a “buy” rating to a “strong-buy” rating in a report on Friday.

Civeo Price Performance

Shares of CVEO traded down $0.22 during trading hours on Monday, hitting $23.16. 86,851 shares of the company were exchanged, compared to its average volume of 52,458. The firm has a fifty day simple moving average of $26.36 and a 200-day simple moving average of $25.85. The company has a market capitalization of $318.91 million, a PE ratio of 16.70 and a beta of 2.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. Civeo has a one year low of $21.44 and a one year high of $28.92.

Civeo (NYSE:CVEO) last announced its 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 return on equity of 0.11% and a net margin of 3.00%. The firm had revenue of $176.34 million during the quarter, compared to analyst estimates of $172.59 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, sell-side analysts predict that Civeo will post -0.58 earnings per share for the current year.

Civeo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 4.32%. The ex-dividend date of this dividend is Monday, November 25th. Civeo’s dividend payout ratio (DPR) is currently 71.43%.

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.