Meros Investment Management LP Purchases Shares of 85,124 Civeo Co. (NYSE:CVEO)

Meros Investment Management LP purchased a new position in shares of Civeo Co. (NYSE:CVEO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,124 shares of the business services provider's stock, valued at approximately $2,332,000. Meros Investment Management LP owned approximately 0.62% of Civeo as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. FMR LLC boosted its position 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. TCW Group Inc. raised its stake in shares of Civeo by 1.0% during the second quarter. TCW Group Inc. now owns 761,574 shares of the business services provider's stock valued at $18,978,000 after acquiring an additional 7,339 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Civeo by 10.0% during the second quarter. Dimensional Fund Advisors LP now owns 439,427 shares of the business services provider's stock worth $10,950,000 after purchasing an additional 39,987 shares during the period. American Century Companies Inc. grew its stake in shares of Civeo by 22.4% in the second quarter. American Century Companies Inc. now owns 254,998 shares of the business services provider's stock worth $6,355,000 after purchasing an additional 46,633 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings 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 valued at $5,634,000 after purchasing an additional 83,145 shares during the period. 81.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Civeo from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 29th.

Civeo Trading Down 0.8 %

NYSE:CVEO traded down $0.18 on Wednesday, reaching $23.47. 45,215 shares of the stock traded hands, compared to its average volume of 53,514. The firm has a market capitalization of $323.18 million, a price-to-earnings ratio of 16.88 and a beta of 2.04. Civeo Co. has a 1-year low of $21.44 and a 1-year high of $28.92. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $25.81 and its 200-day moving average is $25.78.

Civeo (NYSE:CVEO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The business services provider reported ($0.36) earnings per share 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 period in the prior year, the business earned $0.61 EPS. Equities research analysts anticipate that Civeo Co. will post -0.58 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.26%. Civeo's payout ratio is 71.43%.

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.