Civeo Co. (NYSE:CVEO) Sees Significant Increase in Short Interest

Civeo Co. (NYSE:CVEO) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 157,900 shares, a growth of 70.9% from the February 13th total of 92,400 shares. Based on an average daily volume of 102,200 shares, the short-interest ratio is currently 1.5 days. Currently, 1.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Civeo

Several hedge funds and other institutional investors have recently bought and sold shares of CVEO. FMR LLC boosted its holdings 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 purchasing an additional 50,400 shares during the last quarter. TCW Group Inc. increased its holdings in Civeo by 4.2% during the 4th quarter. TCW Group Inc. now owns 780,217 shares of the business services provider’s stock worth $17,727,000 after acquiring an additional 31,157 shares during the period. OFI Invest Asset Management bought a new stake in Civeo during the 4th quarter worth approximately $878,000. State Street Corp bought a new position in shares of Civeo in the 3rd quarter worth $222,000. Finally, Meros Investment Management LP bought a new position in shares of Civeo in the 3rd quarter worth $2,332,000. 81.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Civeo Price Performance

Civeo stock traded up $0.09 during mid-day trading on Friday, reaching $20.56. The company had a trading volume of 44,623 shares, compared to its average volume of 116,384. The company has a market cap of $280.74 million, a P/E ratio of 14.69 and a beta of 2.03. The business has a fifty day simple moving average of $23.71 and a 200 day simple moving average of $24.99. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Civeo has a fifty-two week low of $20.26 and a fifty-two week high of $28.92.

Civeo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Monday, February 24th. Civeo’s dividend payout ratio is presently -80.00%.

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.