Civeo (NYSE:CVEO) Upgraded to “Strong-Buy” at StockNews.com

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

Separately, Stifel Nicolaus lifted their price objective on Civeo from $30.00 to $31.00 and gave the stock a buy rating in a research report on Tuesday, April 30th.

Civeo Stock Performance

Civeo stock opened at $24.72 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.74. The stock has a fifty day moving average price of $25.38 and a two-hundred day moving average price of $23.34. Civeo has a 52-week low of $17.98 and a 52-week high of $28.00. The firm has a market capitalization of $361.41 million, a P/E ratio of 11.72 and a beta of 2.21.

Civeo (NYSE:CVEO) last released its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.33. Civeo had a return on equity of 3.53% and a net margin of 4.49%. The firm had revenue of $170.80 million during the quarter, compared to analyst estimates of $151.12 million. As a group, analysts anticipate that Civeo will post 0.47 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Thursday, May 23rd. Civeo’s dividend payout ratio (DPR) is presently 47.39%.

Insider Activity at Civeo

In other Civeo news, SVP Peter Mccann sold 5,220 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $23.75, for a total transaction of $123,975.00. Following the transaction, the senior vice president now owns 45,395 shares of the company’s stock, valued at approximately $1,078,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Civeo

A number of large investors have recently added to or reduced their stakes in CVEO. Janney Montgomery Scott LLC lifted its holdings in shares of 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 in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Civeo by 4.3% during the 3rd quarter. Moors & Cabot Inc. now owns 43,083 shares of the business services provider’s stock worth $893,000 after buying an additional 1,767 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Civeo during the 1st quarter worth $98,000. Wellington Management Group LLP boosted its stake in Civeo by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after buying an additional 4,100 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Civeo by 8.1% in the first quarter. Empowered Funds LLC now owns 84,559 shares of the business services provider’s stock valued at $2,270,000 after acquiring an additional 6,300 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.

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.