Civeo (NYSE:CVEO) Downgraded to "Buy" Rating by StockNews.com

StockNews.com lowered shares of Civeo (NYSE:CVEO - Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

Civeo Trading Up 0.1 %

NYSE:CVEO traded up $0.02 during trading hours on Friday, hitting $22.20. The company had a trading volume of 45,382 shares, compared to its average volume of 53,438. Civeo has a 1 year low of $21.15 and a 1 year high of $28.92. The company has a market cap of $305.76 million, a P/E ratio of 15.86 and a beta of 2.03. The company has a 50-day moving average of $24.35 and a 200 day moving average of $25.61. 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 - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $172.59 million. Civeo had a net margin of 3.00% and a return on equity of 0.11%. During the same period in the prior year, the company posted $0.61 EPS. Sell-side analysts expect that Civeo will post -0.58 earnings per share for the current year.

Civeo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 4.50%. Civeo's dividend payout ratio (DPR) is 71.43%.

Institutional Investors Weigh In On Civeo

A number of institutional investors have recently made changes to their positions in CVEO. FMR LLC increased its holdings in Civeo by 3.4% in the 3rd quarter. FMR LLC now owns 1,524,352 shares of the business services provider's stock valued at $41,767,000 after purchasing an additional 50,400 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Civeo by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider's stock valued at $10,950,000 after buying an additional 39,987 shares during the period. American Century Companies Inc. lifted its stake in Civeo by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider's stock worth $6,355,000 after acquiring an additional 46,633 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Civeo by 58.1% during the 2nd quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider's stock valued at $5,634,000 after acquiring an additional 83,145 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Civeo by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,863 shares of the business services provider's stock valued at $2,627,000 after acquiring an additional 4,824 shares during the period. 81.44% of the stock is currently 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.