Civeo Co. (NYSE:CVEO) Shares Sold by Mad River Investors

Mad River Investors lessened its holdings in Civeo Co. (NYSE:CVEO) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 216,766 shares of the business services provider’s stock after selling 13,492 shares during the quarter. Civeo makes up approximately 2.3% of Mad River Investors’ holdings, making the stock its 8th biggest holding. Mad River Investors owned about 1.57% of Civeo worth $4,925,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Meros Investment Management LP bought a new position in Civeo during the 3rd quarter worth approximately $2,332,000. XTX Topco Ltd bought a new position in shares of Civeo during the third quarter worth $231,000. State Street Corp acquired a new position in shares of Civeo in the 3rd quarter valued at $222,000. Quantbot Technologies LP bought a new stake in shares of Civeo in the 3rd quarter valued at $68,000. Finally, FMR LLC raised its stake in Civeo by 3.4% during the 3rd 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 period. 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 company has a fifty day moving average price of $23.34 and a 200 day moving average price of $25.53. Civeo Co. has a 1-year low of $21.15 and a 1-year high of $28.92. The firm has a market cap of $328.06 million, a PE ratio of 17.02 and a beta of 1.99. 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 (NYSE:CVEO) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.38). The firm had revenue of $176.34 million for the quarter, compared to the consensus estimate of $172.59 million. Civeo had a return on equity of 0.11% and a net margin of 3.00%. During the same quarter in the previous year, the business posted $0.61 earnings per share. Research analysts predict that Civeo Co. will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. 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 payout ratio is 71.43%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Civeo from a “strong-buy” rating to a “buy” rating in a research 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.