Civeo (NYSE:CVEO) Stock Rating Lowered by StockNews.com

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

Civeo Stock Performance

CVEO opened at $22.20 on Friday. The company has a market cap of $305.76 million, a price-to-earnings ratio of 15.86 and a beta of 2.03. The firm’s fifty day simple moving average is $24.35 and its two-hundred day simple moving average is $25.61. The company has a quick ratio of 1.28, a current ratio of 1.36 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.

Civeo (NYSE:CVEO) last issued 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). 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 period in the prior year, the business posted $0.61 earnings per share. Equities analysts anticipate that Civeo will post -0.58 earnings per share for the current fiscal year.

Civeo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 25th were issued a $0.25 dividend. 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 4.50%. Civeo’s payout ratio is currently 71.43%.

Hedge Funds Weigh In On Civeo

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in Civeo by 3.4% during the third quarter. FMR LLC now owns 1,524,352 shares of the business services provider’s stock worth $41,767,000 after buying an additional 50,400 shares during the last quarter. Meros Investment Management LP purchased a new position in shares of Civeo during the 3rd quarter worth $2,332,000. Royce & Associates LP boosted its position in shares of Civeo by 19.0% during the 3rd quarter. Royce & Associates LP now owns 93,931 shares of the business services provider’s stock valued at $2,574,000 after acquiring an additional 15,002 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider’s stock valued at $6,355,000 after acquiring an additional 46,633 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Civeo in the third quarter valued at about $100,000. 81.44% of the stock is currently 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.