Civeo (NYSE:CVEO) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Civeo (NYSE:CVEO - Free Report) from a buy rating to a hold rating in a research report sent to investors on Monday.

Civeo Trading Down 6.0 %

CVEO stock traded down $1.39 during midday trading on Monday, hitting $21.87. 60,216 shares of the company's stock were exchanged, compared to its average volume of 64,924. Civeo has a 1-year low of $20.26 and a 1-year high of $28.92. The business has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $24.48. The stock has a market capitalization of $298.64 million, a PE ratio of 15.63 and a beta of 2.03. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Monday, February 24th. Civeo's dividend payout ratio (DPR) is currently -80.00%.

Hedge Funds Weigh In On Civeo

A number of institutional investors and hedge funds have recently made changes to their positions in CVEO. Quantbot Technologies LP purchased a new stake in Civeo during the third quarter worth approximately $68,000. BNP Paribas Financial Markets acquired a new stake in Civeo during the fourth quarter worth approximately $94,000. SG Americas Securities LLC lifted its position in shares of Civeo by 42.4% during the 4th quarter. SG Americas Securities LLC now owns 6,552 shares of the business services provider's stock worth $149,000 after buying an additional 1,950 shares during the last quarter. State Street Corp acquired a new position in shares of Civeo in the 3rd quarter valued at $222,000. Finally, XTX Topco Ltd purchased a new position in shares of Civeo in the 3rd quarter valued at $231,000. 81.44% of the stock is owned by institutional investors and hedge funds.

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.