Civeo Co. (NYSE:CVEO) Short Interest Up 45.9% in October

Civeo Co. (NYSE:CVEO) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 89,900 shares, an increase of 45.9% from the October 15th total of 61,600 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 52,400 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Civeo in a report on Wednesday, July 31st. StockNews.com cut Civeo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Institutional Investors Weigh In On Civeo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Civeo in the 3rd quarter valued at about $68,000. Quent Capital LLC bought a new stake in shares of Civeo in the 3rd quarter valued at about $100,000. SG Americas Securities LLC bought a new stake in shares of Civeo in the 2nd quarter valued at about $128,000. State Street Corp bought a new stake in shares of Civeo in the 3rd quarter valued at about $222,000. Finally, XTX Topco Ltd bought a new stake in shares of Civeo in the 3rd quarter valued at about $231,000. Institutional investors own 81.44% of the company’s stock.

Civeo Price Performance

Shares of CVEO traded down $0.55 during midday trading on Friday, hitting $24.93. The company’s stock had a trading volume of 47,075 shares, compared to its average volume of 51,748. Civeo has a one year low of $21.44 and a one year high of $28.92. The company’s fifty day simple moving average is $27.17 and its two-hundred day simple moving average is $25.88. 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 stock has a market capitalization of $343.29 million, a price-to-earnings ratio of 17.81 and a beta of 2.06.

Civeo (NYSE:CVEO) last issued 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). Civeo had a net margin of 3.00% and a return on equity of 0.11%. The business had revenue of $176.34 million during the quarter, compared to the consensus estimate of $172.59 million. During the same quarter in the previous year, the business posted $0.61 EPS. As a group, equities analysts expect that Civeo will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be given 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 4.01%. Civeo’s dividend payout ratio 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.