Civeo (NYSE:CVEO) Upgraded by StockNews.com to Strong-Buy Rating

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

Civeo Trading Up 0.4 %

CVEO opened at $23.38 on Friday. The firm’s 50 day moving average is $26.36 and its 200-day moving average is $25.85. Civeo has a 52-week low of $21.44 and a 52-week high of $28.92. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $321.94 million, a P/E ratio of 16.70 and a beta of 2.06.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.38). The firm had revenue of $176.34 million for the quarter, compared to analysts’ expectations 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 firm earned $0.61 EPS. Analysts expect that Civeo will post -0.58 EPS for the current fiscal year.

Civeo Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.28%. Civeo’s dividend payout ratio (DPR) is presently 71.43%.

Institutional Trading of Civeo

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock worth $41,767,000 after purchasing an additional 50,400 shares during the last quarter. TCW Group Inc. increased its holdings in Civeo by 1.0% in the second quarter. TCW Group Inc. now owns 761,574 shares of the business services provider’s stock valued at $18,978,000 after buying an additional 7,339 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Civeo by 10.0% during 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 buying an additional 39,987 shares in the last quarter. American Century Companies Inc. raised its stake in Civeo by 22.4% during the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock valued at $6,355,000 after buying an additional 46,633 shares in the last quarter. Finally, Acadian Asset Management LLC lifted 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 buying an additional 83,145 shares during the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.

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.