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 report issued on Saturday.

Civeo Price Performance

NYSE CVEO opened at $21.69 on Friday. 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 $298.74 million, a PE ratio of 15.49 and a beta of 2.03. Civeo has a 12-month low of $21.15 and a 12-month high of $28.92. The company has a 50 day moving average price of $24.93 and a two-hundred day moving average price of $25.68.

Civeo (NYSE:CVEO) last issued 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). Civeo had a return on equity of 0.11% and a net margin of 3.00%. 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 prior year, the company posted $0.61 earnings per share. As a group, equities analysts predict that Civeo will post -0.58 earnings per share for the current fiscal year.

Civeo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. Civeo’s payout ratio is presently 71.43%.

Institutional Investors Weigh In On Civeo

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of Civeo by 0.8% during the 2nd quarter. Raymond James & Associates now owns 67,555 shares of the business services provider’s stock worth $1,683,000 after purchasing an additional 561 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Civeo during the third quarter worth approximately $68,000. Quent Capital LLC bought a new stake in shares of Civeo in the third quarter valued at approximately $100,000. Empowered Funds LLC grew 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 worth $2,627,000 after acquiring an additional 4,824 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Civeo during the second quarter worth $128,000. 81.44% of the stock is currently owned by institutional investors.

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.