Ritholtz Wealth Management Takes Position in Civeo Co. (NYSE:CVEO)

Ritholtz Wealth Management acquired a new position in Civeo Co. (NYSE:CVEO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,885 shares of the business services provider’s stock, valued at approximately $298,000. Ritholtz Wealth Management owned approximately 0.07% of Civeo as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of Civeo by 0.8% in the 2nd quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock worth $1,683,000 after purchasing an additional 561 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Civeo by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,119 shares of the business services provider’s stock worth $567,000 after buying an additional 1,729 shares during the period. Lazard Asset Management LLC boosted its position in Civeo by 42.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,773 shares of the business services provider’s stock valued at $289,000 after acquiring an additional 3,220 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Civeo in the 1st quarter valued at $98,000. Finally, Wellington Management Group LLP raised its position in shares of Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock worth $10,285,000 after acquiring an additional 4,100 shares in the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVEO. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Civeo in a research note on Wednesday, July 31st.

Insider Buying and Selling at Civeo

In other news, SVP Allan Schoening sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the transaction, the senior vice president now owns 16,146 shares of the company’s stock, valued at $444,015. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.30% of the stock is owned by corporate insiders.

Civeo Stock Up 1.1 %

Civeo stock opened at $28.03 on Friday. The business has a fifty day moving average price of $27.65 and a 200-day moving average price of $25.83. Civeo Co. has a 1-year low of $18.30 and a 1-year high of $28.92. The stock has a market capitalization of $409.80 million, a price-to-earnings ratio of 13.28 and a beta of 2.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.55 and a quick ratio of 1.46.

Civeo (NYSE:CVEO) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.35. The firm had revenue of $188.71 million for the quarter, compared to the consensus estimate of $173.70 million. Civeo had a net margin of 4.95% and a return on equity of 4.75%. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities research analysts forecast that Civeo Co. will post -0.3 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, August 26th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. Civeo’s dividend payout ratio is presently 47.39%.

Civeo 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.