Civeo (NYSE:CVEO) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Civeo (NYSE:CVEO - Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday.

Civeo Trading Up 1.2 %

NYSE:CVEO traded up $0.26 during trading hours on Friday, reaching $21.69. The company's stock had a trading volume of 53,397 shares, compared to its average volume of 53,668. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a market capitalization of $298.74 million, a price-to-earnings ratio of 15.49 and a beta of 2.03. The firm has a 50-day simple moving average of $24.93 and a 200-day simple moving average of $25.68. Civeo has a 1 year low of $21.15 and a 1 year high of $28.92.

Civeo (NYSE:CVEO - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.38). The company had revenue of $176.34 million during the quarter, compared to analysts' expectations 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 prior year, the firm posted $0.61 EPS. Research analysts expect that Civeo will post -0.58 EPS 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. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, November 25th. Civeo's payout ratio is 71.43%.

Institutional Investors Weigh In On Civeo

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Civeo during the 2nd quarter valued at approximately $128,000. Raymond James & Associates raised its holdings in shares of Civeo by 0.8% during the second quarter. Raymond James & Associates now owns 67,555 shares of the business services provider's stock valued at $1,683,000 after acquiring an additional 561 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Civeo by 58.1% in the second quarter. Acadian Asset Management LLC now owns 226,334 shares of the business services provider's stock worth $5,634,000 after acquiring an additional 83,145 shares during the period. American Century Companies Inc. boosted its holdings in Civeo by 22.4% in the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider's stock valued at $6,355,000 after acquiring an additional 46,633 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Civeo by 10.0% during 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 purchasing an additional 39,987 shares during the period. Hedge funds and other institutional investors own 81.44% of the company's stock.

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.