Mad River Investors Lowers Stock Holdings in Civeo Co. (NYSE:CVEO)

Mad River Investors lessened its holdings in Civeo Co. (NYSE:CVEO) by 5.9% in the fourth quarter, HoldingsChannel reports. The fund owned 216,766 shares of the business services provider’s stock after selling 13,492 shares during the period. Civeo accounts for 2.3% of Mad River Investors’ portfolio, making the stock its 8th largest position. Mad River Investors’ holdings in Civeo were worth $4,925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Civeo during the 3rd quarter worth $68,000. Quent Capital LLC bought a new stake in shares of Civeo during the third quarter worth about $100,000. Empowered Funds LLC increased its stake in shares of Civeo by 5.3% in the third quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider’s stock valued at $2,627,000 after buying an additional 4,824 shares during the period. State Street Corp bought a new position in Civeo in the 3rd quarter valued at approximately $222,000. Finally, XTX Topco Ltd acquired a new stake in Civeo during the 3rd quarter worth approximately $231,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Price Performance

Shares of NYSE:CVEO opened at $23.82 on Tuesday. The firm has a market capitalization of $328.06 million, a PE ratio of 17.02 and a beta of 1.99. Civeo Co. has a twelve month low of $21.15 and a twelve month 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 company has a 50-day moving average price of $23.34 and a two-hundred day moving average price of $25.53.

Civeo (NYSE:CVEO) last announced its 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 company had revenue of $176.34 million during 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 quarter last year, the firm posted $0.61 earnings per share. Equities analysts forecast that Civeo Co. will post -0.58 EPS for the current year.

Civeo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, November 25th. Civeo’s dividend payout ratio (DPR) is currently 71.43%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Civeo from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th.

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.