Civeo Co. (NYSE:CVEO) Sees Significant Growth in Short Interest

Civeo Co. (NYSE:CVEO - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 157,900 shares, an increase of 70.9% from the February 13th total of 92,400 shares. Based on an average daily trading volume, of 102,200 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.4% of the company's shares are sold short.

Civeo Trading Up 3.5 %

NYSE CVEO traded up $0.76 on Wednesday, reaching $22.51. The company had a trading volume of 69,063 shares, compared to its average volume of 63,950. The firm has a market cap of $307.38 million, a price-to-earnings ratio of 16.08 and a beta of 2.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.28. Civeo has a fifty-two week low of $20.26 and a fifty-two week high of $28.92. The business has a 50 day moving average of $23.65 and a two-hundred day moving average of $24.86.

Civeo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.44%. Civeo's dividend payout ratio (DPR) is -80.00%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Civeo from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th.

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Hedge Funds Weigh In On Civeo

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

About Civeo

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.